What are the 3 C's of auditing?

[niyati]

Can someone explain what the 3 C's of auditing?

 

[Shane Warne]

The 3 C's of auditing are Compliance, Controls, and Checks. They ensure that processes follow rules, systems have safeguards, and transactions are verified.

 

[robertwilliam]

Balancing competence, confidentiality, and communication is essential for the effectiveness of the auditing process.

 

[peterkavinsky]

The 3 C's of auditing are Compliance, Control, and Competence. They focus on following regulations, ensuring internal controls are effective, and verifying auditor expertise.

 

[Emly]

The 3 C's of auditing are Compliance, Control, and Competence. Compliance ensures that the organization follows laws, regulations, and internal policies. Control involves evaluating internal systems and processes to prevent errors or fraud. Competence refers to the skills and qualifications of personnel involved in financial reporting and internal controls. Together, these help auditors assess the effectiveness and reliability of an organization's operations.

 

[Gaurav]

The three C's of auditing are compliance, control, and competence. Compliance guarantees that an organization adheres to laws, rules, and internal procedures. Control entails assessing internal systems and processes to avoid mistakes or fraud. Competence refers to the abilities and credentials of people who work in financial reporting and internal controls. Together, these assist auditors in determining the efficacy and reliability of an organization's operations.