Retail audits are often customized to the specific characteristics of the company and the products the business sells. That is why there can be as many types of retail audits as there are businesses. The purpose, however, is the same for all: Evaluate how the company is performing against overall goals and objectives to determine whether the business is compliant with defined operating standards.

• Identify and explain the difference(s) between horizontal and vertical audits.
• Explain the ways that customers and stakeholders might benefit from the changes that result from conducting an audit.
• Why are physical audits necessary?
• Who should managers involve when creating an audit?

Need three outside sources/citations.