Companies conduct different types of audits to maintain checks and balances on different essential aspects of the organization. The important purpose of an audit is to ensure that each business area complies with applicable regulations and works within the confines of corporate policies. Audits are complex as they entail a careful examination of various business processes.
What is Audit Management?
Audit management forms the basis for a sound audit by offering straightforward, measurable steps for achieving specific audit objectives. Documentation of these audit management procedures allows auditors to remain well-informed about ongoing activities with minimal confusion. Audit management procedures are a guideline for auditors, employees, and other stakeholders.