Audit Insurance: An Essential Mechanism For Your Business
In order to stay afloat on the business side, you need insurance. This is especially true when it comes to health regulations in many countries and the personal economic crisis that ravaged many of them in recent years. In this article, see how Audit insurance can save your business both money and time. What is Audit Insurance? Audit insurance is a form of insurance that helps protect businesses from financial harm as a result of an audit. The policy typically covers the cost of professional audits, which can be expensive, time-consuming and often disruptive. The policy also may cover other costs associated with an audit, including legal fees and lost revenue. Factors of consideration when choosing audit insurance An important factor to consider when purchasing audit insurance is the coverage limit. A policy with a low coverage limit may not offer enough protection if there is significant financial damage caused by the audit. Conversely, a policy with a high coverage limit may be ...
