Audit - Term Overview

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An audit is the reflection in its purest state of accounting in a company. The definition of auditing is somehow understood as the related process carried out in a company with the primary purpose of gathering information from business accounting.

What is an audit for?

The audit serves to test a company in terms of the status of its accounts, the fulfillment of its obligations, the development of its potential activities as well as the way in which the company exploits its full potential in its daily exercise. All this with regard to the internal sphere of the company, as well as external. We are therefore talking about the internal audit where it's related to the workers or their capacities to face payments and compliance with legal regulations.

While there are several types of audits, the ultimate objective is to find out any problems that the company may have to detect the focus and its weaknesses to rectify them. Of course, all financial audits must be carried out by a highly qualified professional.

When to do an audit?

To do an audit the correct thing is to keep a follow-up, for example as is done with the journal. This will allow any company or institution to know if it follows a regularity in relation to the exercise of its activities and if it continues to be faithful to its principles.

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