Different types of audit :

As a brief recap, an audit examines your financial records and transactions to verify they are accurate. Typically, audits look at your financial statements and accounting books to compare information.

You or your employees may conduct audits. Or, you might have a third party audit your information (e.g., IRS audits).

Many business owners have routine audits, such as once per year. If you are not organized or don’t keep thorough records, your audits might take more time to complete.

Types of audits can vary from business to business. For example, a construction business might conduct an audit to analyze how much they spent on a specific project (e.g., costs for contractors or supplies).

Overall, audits help ensure your business is operating smoothly. So, what are the various types of audit?

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