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Audit & Assurance FAQ
Audit & Assurance provides stakeholders, such as investors, creditors, and regulators, with confidence in the reliability of financial information and the integrity of an organization’s operations.
While audit focuses on the examination of financial statements and internal controls, assurance extends beyond financial reporting to include other types of information or processes, such as sustainability reporting or cybersecurity.
Audit & Assurance services are typically performed by certified public accountants (CPAs) or audit firms with specialized expertise in accounting, auditing standards, and regulatory compliance.
The frequency of Audit & Assurance engagements depends on factors such as regulatory requirements, the size and complexity of the organization, and stakeholder expectations.
Voluntary Audit & Assurance engagements can enhance transparency, improve internal controls, identify areas for improvement, and enhance stakeholder confidence.