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Explain the following types of internal audit; Financial audits, Operational audits and Compliance audits?

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Question added by Frank Mwansa , ACCOUNTING LECTURER , FREELANCER
Date Posted: 2016/01/25
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Bijoy Davies
by Bijoy Davies , Sr. Accountant , HYDROFIT TRADING LLC

financial audit - to check the arithmetical accuracy

Operational audit - to find out is there any loopholes in the system

Compliance Audit - to confirm whether all the statutory procedures are done while running an organisation.

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