Welcome back to Business Cents. In this episode, Melissa and Lloyd break down when a business actually needs an audit, who typically requires it, and what an audit does and does not do.

They clear up common misconceptions about fraud detection, explain “reasonable assurance” and materiality in plain language, and walk through the difference between an audit, a review, and a compilation using a simple car analogy. They also share a more targeted option for business owners with specific concerns: agreed upon procedures. We hope you're ready to dive in!

Have a question about audits or want us to cover a topic on a future episode? Drop a comment and let us know!

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⁠⁠⁠⁠Melissa Terito⁠⁠⁠⁠⁠

⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Lloyd Johnson⁠⁠⁠⁠