What is Auditing?
What is Auditing, Its Types, Purposes, and Some Current Issues What is Auditing? Auditing is the process of assessment and ascertaining of financial, operational, and strategic goals and processes in organizations to determine whether they are in compliance with the stated principles in addition to them being in conformity with organizational and more importantly, regulatory requirements. Indeed, among the objectives of auditing as mentioned above, conformance with regulatory norms and rules and regulations is indeed one of the drivers behind auditing and historically and traditionally, has been the main reason why organizations get their financial statements, operational process, and strategic imperatives audited. Types of Audits Among the various types of audits, financial audits are the most popular followed by operational and strategic audits and in addition to the emerging practice of IT (Information Technology) audits. Moreover, auditing as a process has now become so routine an