Investigation
An audit investigation is a process that examines potential wrongdoing, like fraud, waste, abuse, or non-compliance with laws, regulations, or internal policies, to gather evidence and determine if a violation has occurred. It can be part of an audit process or a separate, more in-depth inquiry. Investigations aim to reveal facts, assess the extent of any misconduct, and inform corrective actions.
While very similar to a financial or compliance audit, the main difference that an audit is a systematic examination to ensure accuracy and compliance, while an investigation is to uncover and document potential wrongdoing.
Authorities For Further Research(i) Audit investigations are performed via private agreement/contract which is always subject to federal and applicable state law.
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