Navigating the Legal Landscape of Audits: Understanding Implications and Best Practices

Audits are critical tools for assessing compliance, financial integrity, and operational efficiency within organizations. However, they also carry significant legal implications that both auditors and auditees must understand to navigate effectively. This session delves into the intricate web of legal considerations surrounding audits. Participants will explore key topics such as the rights and responsibilities of auditors and auditees, legal frameworks governing audits (including privacy laws like GDPR and HIPAA), and the potential consequences of noncompliance. Through case studies and real-world examples, attendees will gain insights into how audit findings can impact legal liabilities, contractual obligations, and regulatory compliance. We will discuss strategies for mitigating legal risks during audits, including proper documentation, maintaining confidentiality, and responding to audit findings. By the end of the session, participants will have a clearer understanding of the legal landscape surrounding audits and be equipped with practical tips to ensure audits are conducted effectively and compliantly within their organizations.

Speakers:

Scott Jones, Adams & Reese

Andy Barlow, AAP, Macha/PAR

*This session is not eligible for continuing education credits.

Tag(s): PLCS 2024, Legal, Compliance, Audits, Regulatory