BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -A financial audit is an objective examination and evaluation of the financial statements of an organization to make sure that the financial records are a fair and accurate representation of the transactions they claim to represent.

Detailed explanation-2: -A financial audit is an examination of financial statements, and a compliance audit is the examination of laws and procedures complied with.

Detailed explanation-3: -Internal audits Internal audits are used to improve decision-making within a company by providing managers with actionable items to improve internal controls. They also ensure compliance with laws and regulations and maintain timely, fair, and accurate financial reporting.

Detailed explanation-4: -An external audit is an examination of a company’s financial records by someone that is not an employee of the company itself. This person, known as an auditor, looks over the financial records of the company.