What is a situation audit in strategic planning?


What is a situation audit in strategic planning?

Situation Audit:

A situation audit seeks to gauge the challenges affecting market gaps that a company may venture into within a given period. Therefore, the audit aims to safeguard the business from venturing into opportunities that they may not overcome when they arise during its operation.

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A situation analysis entails investigations on market factors, rivalry in the market, and other environmental factors that affect the operations of a...

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What is Audit Sampling?


Chapter 3 / Lesson 4

In a financial audit, sampling can be an efficient way to tackle a large number of accounting transactions. Learn about the importance of sampling, types of sample selection, and the differences between statistical and non-statistical sampling.

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