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Statutory Audit
A statutory audit is a legally required review of the accuracy of a company's or government's financial statements and records. An audit is an examination of records held by an organization, business, government entity, or individual, which involves the analysis of financial records or other areas.
Payroll Audit
A payroll audit, also known as a compliance audit, is an analysis of an organisation's payroll-related processes. It identifies compliance problems concerning employment laws, verifies tax withholdings, spots human errors, and prevents payroll fraud, to name a few. Thus, it is vital to frequently do a payroll audit.
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