What are the different types of audit instructions?
There are several different types of audits that can affect society, each testing a specific element of business. These include financial, government, compliance and IT. The audit instructions will depend on both the audit type and whether it is a compulsory and legal audit or only proven procedures.
The best known form of audit is the financial audit that controls the accounts of the company. In many countries, publicly traded companies have to leave their accounts audited by an independent source: this helps to inform shareholders and ensures a fair comparison between different companies. The audit instructions do not easily cover whether the numbers are accurate and correctly calculated. Instead, the instructions also concern the assumptions used in the preparation of accounts. Remarkable examples include how the Company is responsible for the depreciation value of the asset and how it deals with the difference between acceptance or payment for sale and goods or services, especially if payment and delivery fall within different accounting periods. HereThe audit instructions differ depending on the ground and in some cases on a particular organ. The problems checked could include financial stability, quality of services and whether the company was involved in corruption. Some public authorities will also check the environmental record of a potential supplier.
Instructions for Audit Compliance apply to which they apply to any law and regulations. Some will be specific to the industrial sector, such as health and safety instructions for the construction company. Others will apply to all companies in a particular country. They could include minimum wage laws, working conditions and equal opportunities legislation.
IT and security audits cover the company's differ elements of the company's computer systems. One aspects to which the audit will be security: how is the company protected againstThe attack and what preventive measures are introduced to prevent employees from abusing the company's data. Another key aspect is the reliability of the network, covering points, such as whether it contains a built -in redundancy, so it can continue to work, even if some machines or system fail.