annual audits

Are Companies Required To Have An Audit?

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Are Companies Required To Have An Audit? Yes. By law, the annual financial statements of public companies must be audited each year by independent auditors, accountants who examine the data for conformity with U.S. Generally Accepted Accounting Principles (GAAP). Which companies are required to be audited in us? Public companies, private businesses, companies that control

How Often Should Audits Be Done?

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How Often Should Audits Be Done? You should audit high-risk and other crucial processes at least quarterly or twice a year. Your compliance auditor will recommend auditing newly-developed processes quarterly. Audits become less frequent as process become refined and stable. How often should financial audits be done? How often are external audits conducted? Generally, a