Question

How can an audit be used as a tool for measuring the performance of a business.

Answer 1

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Audits help businesses uncover problems and ensure efficiency. Here are the top 5 reason to conduct an audit: ... To instill a sense of confidence in management that the business is functioning well and you are prepared to meet potential challenges.

1.  To insure the effective operation of an organization.

2.  To review compliance with a multitude of administrative regulations.

3.  To instill a sense of confidence in management that the business is functioning well and you are prepared to meet potential challenges.

4.  To maintain/enhance the organization’s reputation in the community.

5.  To perform a “due diligence” review for shareholders or potential investors.