How Can Business Leaders Enhance the Effectiveness of External Audits?
Business leaders can take several steps to enhance the effectiveness of external audits:
Foster a Culture of Transparency: Encourage openness and honesty in financial reporting and operations. Ensure Proper Documentation: Maintain accurate and comprehensive records to facilitate the audit process. Engage with Auditors: Regularly meet with auditors to discuss progress and address any concerns promptly. Implement Recommendations: Act on the auditors' recommendations to improve financial practices and controls.