Internal Audit - an assessment of an organization's processes, systems, and practices to determine if they are functioning effectively and producing acceptable levels of quality or safety.
2. External Audit - the examination by a third party (usually an independent auditor) of the financial statements, operations, management policies and procedures for a client company or public entity such as government agencies like state universities
3 . Management Evaluation Audit- this type is also known as a "performance" audit which focuses on how well objectives were achieved during the past year compared with predetermined targets set out at the beginning of that time period .