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What are some different audit programs?

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Audit programs generally come in two types: internal and external. Internal audit programs are a sort of self-evaluation for company to help it determine the effectiveness of its own risk management, control and governance processes. These are usually conducted by auditors employed by the company directly, according to ASQ.org.

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Full Answer

External audits are performed by a second or third party that is independent of the company. One example is when one company audits the processes of another to ensure the provisions of a contract are being met. Most jurisdictions require annual external audits for companies that reach a particular size, as stated on Accounting-Simplified.com. Other types of audit programs include forensic audit, public sector audit, tax audit, information system audit and compliance audit.

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