Most organisations routinely perform annual audits of their financial polices, practices and record keeping to make sure there are no irregularities in their financial systems. Whether conducted by employees within the organisation or by expensive outside consultants, these comprehensive financial reviews help companies ensure statutory compliance with dozens of applicable federal accounting and financial disclosure laws.
HR compliance audit is a diagnostic tool for practices to assess the health and compliance of their human resources policies, procedures and protocols. Whether a practice employs 5 or 500 employees, this comprehensive review can help owners and managers avoid the significant legal and/or financial penalties for not complying with the vast array of complicated employment laws while ensuring their procedures are adequate and effective. In essence, an HR audit involves identifying issues and finding solutions to problems before they become unmanageable. It is an opportunity for a practice to determine what it is doing right and what needs to be corrected.