Non-Traditional Audits – Exploring Compliance Beyond Financial Statements

Here are the instructions given by the professor:

We have talked about regular financial statement audits throughout this entire course.

However--we have also touched on different types of audits--you may remember this discussion in Week 2.

This is what I want you to explore and discuss.

It is often said that "auditing is everywhere".

Remember audit is simply checking to see if the person/company responsible has complied with an established criteria or agreement.

So where does this happen outside of the financial statement audits we discuss in class?

Most times these "non-traditional" audits are not done by CPA's but either by, or on behalf of, other interested parties that are affected by the compliance.

Your task is to find one of these situations and briefly discuss: who is the responsible party, what is the criteria, who is doing the audit and who is the interested party.

The rules:

Summarize your findings/discussion in the body of an email only--no attachments or references needed

Be concise but clear

To be fair to all I will only accept one example for the entire class--so two students cannot submit the same example

If you have done so and there is still time left I will advise and you can resubmit