A quality audit is a review of the performance of one area of a business and an analysis of why the results occurred. Even small businesses can benefit from simple quality audits, which can help spot ...

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Companies, government agencies and nonprofit organizations use auditing practices to manage compliance with internal controls. For example, an auditor looks for inconsistencies in financial records.

The accounting profession’s pursuit of quality in auditing has led CPAs and regulators to consider what factors might correlate with high-quality performance on an engagement. A new study by the AICPA ...