Audits play a crucial role in ensuring transparency, accuracy, and accountability within organizations. Two common types of audits are the financial audit and the compliance audit, each serving a distinct purpose. Financial audits focus on verifying the accuracy of an organization’s financial statements, while compliance audits examine whether an organization adheres to applicable laws, regulations, and internal policies. While both audit types are essential for risk management and governance, they address different areas and have unique methodologies, objectives, and outcomes., In this article, we will introduce you to the basics of compliance audits, break down various types, and give some firsthand advice on what to expect and how to successfully navigate a compliance audit., Audits play a crucial role in ensuring transparency, accuracy, and accountability within organizations. Two common types of audits are the financial audit and the compliance audit, each serving a distinct purpose. Financial audits focus on verifying the accuracy of an organization’s financial statements, while compliance audits examine whether an organization adheres to applicable laws .