Audits are a form of investigation, which companies use to examine and evaluate financial statements, accounts and management reports, accounting records, operational, income and expense reports.
There are different types of audits to investigate depending on the nature of what is evaluated. Keep reading this article and learn about the types of audits that exist.
What type of audit is right for my company?
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- External audit: This type of audit verifies that the financial status and operations of a company are in accordance with official records, in addition to anticipating the detection of contingencies or risks.
- Internal audit: The objective of this type of audit is almost always to review the processes that take place in it and from there propose solutions. In addition to helping with the implementation of policies, controls, and monitoring, your business will have a solid structure that fosters the efficiency of operations and personnel towards the fulfillment of institutional objectives.
- Government audit: Its objective is to review the financial statements of companies and identify any type of irregularity, such as tax evasion, unjustified financing or non-compliance with labor laws.
- IT audit: Almost every business relies on computer systems. Therefore, it is necessary to carry out an evaluation of them from time to time and, if necessary, update them and adapt them to the requirements of the context. IT audits are responsible for carrying out a risk analysis, through standards, norms, and methodologies.
- Environmental audit: It consists of measuring the impact of a company’s activity on the environment. This, in order to determine if the standards required by law are met.
- Management audit: It consists of measuring the use of the company’s resources to assess whether it is efficient, but, in addition, unlike the operational audit, it goes a step further to analyse whether the expected profitability objectives have been achieved.
- Quality audit: It is carried out to verify the correct functioning of the quality system implemented by the company. This, within the framework of the ISO 9001 standard.
At VLH we seek the correct management of your company with the different types of audits that we offer you so that you can request the one that best suits your needs. Avoid penalties and fraud in your company. Request your advice today!