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Unformatted text preview: 1-38)An audit can take many different forms and be anything from a very specific area to a broad and general audit. In general terms, an audit is looking at how well you comply to process and procedures. In manufacturing it could be OSHA compliance for safety, compliance to company processes and documentation on compliance with company policies. What should you expect depends on your position of responsibility. If you are in a position of responsibility, expect interviews, requests for information and documentation and to prepare responses to potential deficiencies. If you are a line worker, expect the possibility of being interviewed and asked questions about processes, policy and procedures. For anyone involved, whether it is for financial reasons or safety needs to know what happens in these audits to determine if they want to continue to do business with the company.1-40)a. Disagree. All auditing is not based on finances and fraud. If it is a financial audit then I would agree that the primary purpose is to detect and report any fraud. b. Disagree. The manager or owner of any company should not be “friends” with the auditor. It is just not a fair practice and brings up the problem of conflict of interest.c. Agree. Even though the Red Cross is a charitable organization, I personally feel that they should be held accountable and be required to report internal controls and operations....
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- Spring '10
- Financial audit, Privately held company, Public company, privately held companies