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An audit regime is usually a rigorous set of forensic accounting methods that is used to detect fraud. It refers more generally however to any similar regime of verification of conformity to some standard, e.g. Kyoto Protocol, Harkin-Engel Protocol, or some mandatory labeling scheme. Without such a regime, transparency is simply not attainable.
Most accounting reform includes strict audit measures to verify that new standards are met.
Financial privacy is often in direct conflict with the desire for any stricter audit regimes.
Characteristics of an effective audit regime include:
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