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Agreed with all answers given by our friends.
Yes, there is difference between the regularity audit and the compliance audit.
The Regularity Audit Manual is part of an overall process to uplift SAIs in the AFROSAI-E region to a professional standard. The manual is in accordance with the ISSAIs (1000-2999); which means full compliance with all relevant ISAs and the additional guidance set out in the INTOSAI Practice Notes to the ISAs
Where as A compliance audit is a comprehensive review of an organization's adherence to regulatory guidelines. Independent accounting, security or IT consultants evaluate the strength and thoroughness of compliance preparations.
Aligned with the answers above
Audit: means a review of input data and documents the function of authenticity Thboatha books
The audit means the principles, standards and rules that Boisttha able checker configured neutral opinion on the audited accounts and match them to tack standards and accounting systems
2. Audit place every now and then throughout the fiscal year
The audit is up at the end of the fiscal year only
Yes, a regulatory audit is a compulsory one which is imposed by local law whereas the compliance audit in most cases is a internal one.
Yes, there is a big difference between them ;
The difference in the scope and timing of both of them as follows;
Regular Audit : Top be made periodically and regular to cover the rotin process using the random sampling .
Compliance Audit : To be made once when needed or asking. to check if all legal behavior of an \\entity is adhere to the regulations and law or not.
