What is the audit process?

Can you explain what the audit process is?

Sure! The audit process involves a systematic examination of financial records and operations to ensure accuracy and compliance.

What are the main steps involved in an audit?

The main steps include planning, fieldwork, reporting, and follow-up. Each step is crucial for a thorough audit.

Who typically conducts audits?

Audits are usually conducted by internal auditors within the organization or external auditors from independent firms.

How often should audits be performed?

Audits are typically performed annually, but the frequency can vary based on regulatory requirements and organizational needs.