Audit Procedures
Audit procedures are systematic methods and techniques used to gather evidence and evaluate the accuracy, completeness, and reliability of financial records, internal controls, or compliance with regulations. They involve steps like inspection, observation, inquiry, confirmation, and analytical procedures to assess risks and verify information. This methodology is essential in accounting, finance, and IT to ensure transparency, detect fraud, and maintain trust in organizational processes.
Developers should learn audit procedures when working in fields like fintech, cybersecurity, or regulatory compliance, as they help in designing secure systems, conducting code reviews, and ensuring data integrity. For example, in software development, audit procedures are used to validate financial transactions in banking apps or to assess security vulnerabilities in IT audits, reducing risks and meeting legal standards such as SOX or GDPR.