The following is a list of the of audits that are used to provide audit services-

External audit
The term "external audit" refers to audit companies that provide services like assurance and tax consulting. In Estabizz, you can find the best auditing services. This kind of audit service necessitates the use of qualified professionals who adhere to international auditing standards or local standards as required by local legislation.

From auditing the clients to eliminating any conflicts of interest that may have arisen, Estabizz operates independently. Conflicts of interest must be reduced by following the right processes. Financial statement audits, advising services, and tax consulting services are among the often-requested services provided by external auditing companies.

Internal audit
Internal audit is a free consulting service that has been created to enhance corporate value and operational efficiency. Additionally, it offers a structured and methodical evaluation and assessment process for the entity's risk management, internal control, and corporate governance.

The audit committee or board of directors with equal authority decides the entire scope of internal audit. If the company does not have an audit committee or board of directors, the internal audit committee reports to the company's shareholders.

Forensic audit
A forensic accountant with experience in both accounting and investigation typically conducts forensic audits. The inquiry spans a variety of topics, such as insurance claims, fraud investigations, and shareholder disputes of various kinds. Like any other audit engagement, a forensic audit needs a suitable plan, procedure, and report.

Statutory audit
Statutory audits are those conducted on financial accounts for a certain class of companies as mandated by local or state legislation. External audit companies typically carry out statutory audits, and the government body of an entity receives the audit report that the auditor issues. The annual turnover, staff count, and asset worth are the typical criteria used by companies to audit the financial statements provided by the financial firms. Financial statement audits are typically required of companies with stock market listings.

Financial audit
An independent auditor, or more specifically an auditing firm, will examine the financial accounts of the entity. Annual financial audits are conducted at the conclusion of the accounting period. Financial statement auditing is another name for this kind of audit. On a quarterly basis, if necessary, financial audits are also performed.

To conduct a financial audit that complies with both local legal requirements and international standards, the auditor must adhere to audit standards.

Tax audit
The tax authority or department of the government handles tax audits. Due to a government agency's noncompliance, a tax audit may be conducted.

Any business or other entity has to reduce the fine brought on by the tax audit. The entity must adhere to all requirements imposed by the tax law. They can seek additional guidance from a tax consulting firm for this reason.

Information technology audits or information system audits (IT Audit)
This kind of audit assesses and verifies the system's integrity, dependability, and information security architecture so that users can have confidence in the system's output.

Because of the growing use of technology and the fact that the majority of customers' financial reports are documented in accounting software, financial auditing occasionally necessitates IT auditing. You can get IT auditing services from Estabizz in addition to financial auditing services.

Compliance audit
A compliance audit examines a company's internal policies and practices as well as local laws and regulations. A compliance audit is a component of the system utilized by the entity's management to ensure that the government's laws and regulations are being implemented effectively.

Audit of value for money
Value for money audits is those that are conducted to review and evaluate Economy, Effectiveness, and Efficiency, three different aspects. A value for money audit is crucial for a company since it aids in purchasing and increases the effectiveness of the materials utilized in various processes.

Examine the financial statements
An auditor's evaluation of a financial statement and an expression of their opinion about it constitutes a particular sort of negative probe. When a business needs money from the bank, these services are typically required.

Agreed Upon Procedures (AUP)
The procedure that was mutually agreed upon is examined by the auditors as part of a negative examination of this kind. Limited assurance investigations fall within this category. Even though the client establishes the procedures, the auditors must also guarantee that the company has enough resources to do the task. The absence of any conflicts of interest between the audit team and the client management team must also be checked by the auditor.

Integral audit
When two separate types of audits are required, an integrated audit is carried out. For instance, social audit must be combined with financial audit. When an organization works in numerous nations and the financial statements are audited by various audit firms, an integrated audit is also carried out.

Particular audit
An internal auditor typically conducts a customized audit. For instance, the audit committee may be asked to undertake a specific audit if fraud is discovered in the payroll department.

An internal auditor typically performs a special audit as part of their regular duties. Internal staff members conduct special audits.

Operational audit
Operational auditing is a type of auditing that is primarily concerned with the internal control system and important processes, systems, or procedures. Enhancing the operation's productivity, efficiency, and effectiveness is the main goal of operational audit.