Auditing is an essential activity for small-business owners. Following proper auditing procedures helps businesses avoid tax problems later on, and helps companies assess their financial situations ...

The purpose of an operational audit is to improve the efficiency of day-to-day operations, reports Accounting Tools. These activities contribute indirectly to the functioning of the business.

Leaders in manufacturing are no strangers to auditing, regularly reviewing plant floor metrics, dissecting financial reports, and looking at other processes for waste and inefficiency. Yet, the most ...