A Compliance Audit is a comprehensive review of an organisation’s adherence to regulatory guidelines.
Audit reports evaluate the strength and thoroughness of compliance preparations, security policies, user access controls and risk management procedures over the course of a compliance audit.
Compliance audit is an assessment as to whether the provisions of the applicable laws, rules and regulations made there under and various orders and instructions issued by the competent authority are being compiled with.
This audit by its very nature promotes accountability, good governance, and transparency as it is concerned with reporting deviations, identifying weakness, and assessing propriety.
Indian Audit & Accounts Department had been traditionally conducting transaction-based audits, regularity audits, propriety audits, theme based, and Chief Controlling Officer based audits which are essentially in the nature of assessing compliance. These constitute the bulk of the audit activity of the Department, and it is imperative that they are planned and conducted in structured manner.