Types of Audit

Question

Types of Audit

Accepted Answer

There are three types of audits: internal, external, and government.

Internal audits are conducted by the organization's own employees to evaluate internal controls and processes.
External audits are conducted by independent auditors to provide an objective assessment of the organization's financial statements.
Government audits are conducted by government agencies to ensure compliance with laws and regulations.
Other types of audits include forensic audits, operational audits, and compliance audits.
Forensic audits are conducted to investigate fraud or other illegal activities.
Operational audits focus on evaluating the efficiency and effectiveness of an organization's operations.
Compliance audits ensure that an organization is following applicable laws and regulations.
Audits can also be categorized as either financial or non-financial audits.

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