How to start an audit and completion process for the same

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Accepted Answer

To start an audit, plan and prepare the audit, conduct fieldwork, analyze findings, and issue a report.

Plan and prepare the audit by understanding the client's business and risks, determining the scope and objectives of the audit, and developing an audit plan.
Conduct fieldwork by gathering and analyzing data, testing controls, and assessing risks.
Analyze findings by evaluating the significance of the issues identified and determining the root cause of the problems.
Issue a report by summarizing the audit findings, providing recommendations for improvement, and communicating the results to management.
Complete the audit process by following up on recommendations and ensuring that corrective actions have been taken.

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