Read More – Government Audits
A government audit is an evaluation of a business entity’s or an individual’s financial records. Audits are conducted by trained professionals to determine the validity of certain information and to independently asses the business entity’s or individual’s records and reporting system. Government audits pay particular attention to careless or improper record keeping and are able to accurately detect such errors. The end-goal of a government audit is to provide sufficient assurance that the records provided are free from any material errors. Those performing the audits are usually trained accountants (known as “auditors”). After auditing a business entity’s or an individual’s financial records, auditors compile and issue an auditor’s report. Auditors can than make suggestions to the audited party on how to better balance books and how to improve financial reporting and organization.
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