Business Finance Homework Help

Four brief articles on audits:

What Is a Vertical Audit? Rubenstein, M. (2017, Sept 26). bizfluent.com

Quality Audit Types. Wilhite, T. (2017, Sept 26). bizfluent.com

• What Is an Audit Plan? Vitez, O. (2017, Sept 26). bizfluent.com

Define Quality Assurance Audit. Weedmark, D. (2019, Dec 2). bizfluent.com

• How to Build a Retail Audit Checklist. (n.d.). blog.compliantia.com

How Big Data Analysis Helped Increase Walmarts Sales Turnover? (2021, Jul 4). dezyre.com

• Management Audit Form for Small Retailers. Little, M. Management Aids Number 4. 012. U.S. Small Business Administration

Retail audits are often customized to the specific characteristics of the company and the products the business sells. That is why there can be as many types of retail audits as there are businesses. The purpose, however, is the same for all: Evaluate how the company is performing against overall goals and objectives to determine whether the business is compliant with defined operating standards.

• Instructions

In 400-500 words, double-spaced, address the questions below. Review course content and conduct additional outside research on auditing procedures and the retail audit in order to answer them.

Identify and explain the difference(s) between horizontal and vertical audits.

Explain the ways that customers and stakeholders might benefit from the changes that result from conducting an audit.

Why are physical audits necessary?

Who should managers involve when creating an audit?