auditing practices

Auditing practices involve systematically reviewing an organization's financial records and processes to ensure accuracy, compliance, and integrity. Professionals called auditors examine financial statements, internal controls, and procedures to verify that the information reported is correct and aligns with legal standards. The goal is to identify errors, fraud, or weaknesses in controls, helping organizations improve transparency and accountability. Audits can be internal, conducted by staff within the organization, or external, performed by independent experts. Overall, auditing promotes trust and confidence among stakeholders, ensuring financial information is reliable for decision-making.