What Are the Steps Involved in Conducting an Audit?
Conducting an audit involves several key steps:
Planning: Define the scope, objectives, and timeline of the audit. Identify the areas to be audited and the resources required. Fieldwork: Collect and analyze data, conduct interviews, and review relevant documents and records. Reporting: Compile findings into a formal audit report, highlighting areas of concern and recommendations for improvement. Follow-up: Monitor the implementation of recommended actions and ensure that issues identified are addressed.