Question

You have been asked to regularly participate in a review process of the organisations professional practices quality system as action of the organisations commitment to upgrading the skills and knowledge of its team and toward accreditation of the system. Identify what legal and ethical policy and processes could be included in the audit?

Answer 1

Audit is the examination or inspection of various registers of accounts in an organization by an auditor followed by physical checking of inventory. It is done to ensure the accuracy of financial statements provided by the organisation and make sure that all the departments are properly functioning.

The audit consists of four stages. That is planning, fieldwork, reporting, and follow-up. The process involves:

• Define audit objectives. Prior to the audit, conducts a preliminary planning and information gathering phase.
• Audit Announcement.
• Audit Entrance Meeting.
• Fieldwork.
• Reviewing and Communicating Results.
• Audit Exit Meeting.
• Audit Report.