Auditing

Internal Audits: Internal audits are conducted by the company itself. This is done to maintain an accurate record of all financial transactions, as well as evaluate how efficiently and effectively each individual department operates within a company’s structure.
External Audits: An external audit is performed by someone outside of the business in order to verify that they have not violated any regulations or ethical practices; this can be used for legal purposes such as making sure no violations occurred during their bookkeeping process and verifying if the goods being sold are what they claim them to be on their website, etc.