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In this session on compliance reporting, the primary goal is to ensure that the entity adheres to established criteria, including laws, regulations, and contractual agreements, promoting transparency, accountability, and good governance. Compliance reporting can occur within three contexts: financial statement audits, attestation engagements, and single audit engagements. Each context serves to assess whether the company meets the required compliance standards. The discussion will cover these aspects to provide a comprehensive understanding of compliance reporting practices.
