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Compliance Audit

Definition
A comprehensive review of some aspect of the internal operations of a company that requires certification by a regulatory body to verify that it is in compliance with mandatory guidelines. Compliance audit procedures may be conducted internally, but are usually facilitated by the certifying organization. A company may require several compliance audits to review regulatory adherence in multiple departments, such as finance, IT, manufacturing, human resources, and, in the case of certain types of financial firms, marketing and sales.

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