What is Legal Audit?
A legal audit is a comprehensive review of a company's adherence to regulatory guidelines. It can be likened to a health check-up, but for the legal aspects of a business. Here's a breakdown:
A legal audit is a comprehensive review of a company's adherence to regulatory guidelines. It can be likened to a health check-up, but for the legal aspects of a business. Here's a breakdown:
Verification of payables by auditors is a crucial aspect of the audit process to ensure the accuracy and completeness of financial records. Payables are amounts owed by a company to its suppliers or creditors for goods and services purchased on credit. They are also referred to as accounts payable or trade payables. The verification process typically involves the following steps: