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Compliance Audit Services
A compliance audit is an inclusive review of an organization’s adherence to regulatory guidelines. The extent of the compliance audit is also be dependent on whether an organization is public or private. Compliance Audit is undertaken to confirm regulatory compliances which are applicable to any entity. It promotes good governance both by identifying weaknesses and deviations from laws and regulations. A compliance audit is a process of broad reviews that focus on an organization’s commitment to a set of regulatory guidelines or its adherence to a specific contract or terms of agreement.
We undertake compliances audit covering more than 60 business laws which are applicable to the business entities. Our consulting professionals combine their industry knowledge, experience, leading methodologies, and a performance focus helps to undertake compliance audits covering applicable business laws to the entity. Our compliance audit report gives all the stake holders a quick report on the status of the compliances on all the business laws which are applicable to the enterprise.
Before the audit begins, the auditors will meet with parties listed in the contract. In the agreement and accountants/auditors are given specific instructions or guidelines on what aspects they should check during the compliance audit. Upon completion, the auditors will again meet with the involved parties to discuss their findings. Another type of compliance audit is an internal audit that is done to check if the employees and various constituents of the organization are following the standard operating procedures of the organization.
These procedures are in place to ensure that all goods and services being provided by the company meet the same standards. These internal audits are usually for the benefit of the company to help management make intellectual decisions. Compliance audits assure the government that a business is following rules and regulations of a specific agreement. Depending on the topic, each audit can be performed by different entities.