What are the main objectives of compliance audit ? Also explain benefits of compliance audit.

Objectives of Compliance Audit The objective of a compliance audit is to determine whether the auditee is following prescribed laws, regulations, policies, or procedures. These audits can be performed within a business organization for internal purposes or in response to requirements by outside groups, particularly government. Benefits of Compliance Audit Adherence to the established standards. Improvement of internal processes and technologies. Maintenance of Certifications. Adherence to governmental regulations. Cost recovery. Elevate fraud awareness and deter fraudulent activity. Manage contract areas of risk.