How to Avoid Losing a Business to a Failed Audit

Running Head: How to Avoid Losing a crease to a Failed Audit Cheryl M Cassagne College Composition II CM225-115 Kaplan University Undergraduate School of Business and Management Professor Kelley Gordon June 8, 2010 An audit is an inspection to examine a personal credit line with the intent to verify their accounts. It most commonly refers to audits in accounting, merely equivalent notions also exist in both forest and project management, and for energy conservation. Audits ar necessary because it is important that companies argon using fair policies approved by law and the frequents currency is safeguarded. When a business has a goodly reputation it means they are abiding and practicing these procedures correctly. The standards that are in place also helps keeps the supervisors from trying to pamper themselves with fraudulent activities. Audits stub be extremely costly and companies mustiness pay the auditors and contain meticulous records. Confirming compliance is essential for unrestricted businesses to restrain failure from the organization. in that respect are many important factors that bid a role when it comes to audits. One thing for sure is if you are not in compliance your company forget be in jeopardy with major monetary fines and damage to the asylums reputation.

As a corporation, there are genuine treats that can be done to avoid falling kayoed of conformity. Try to avoid the use of people handling the pecuniary paperwork and automate as much as possible. This first action will make your information engineering science department true(p) for the compliance. A rule of thumb is to take initiative rather of being responsive. Rules and regulations constantly change so the business must modify and assess the efficiency of IT controls. The configuration of business and IT practices will ensure the success and monetary effectiveness of the compliance methods. There should be an upfront relationship between what the information technology department manages and what the... If you want to get a full essay, pasture it on our website: Ordercustompaper.com

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