This determines the accuracy and completeness of a firm’s data; most organizations determine an acceptable percentage of accuracy and completeness high enough to make good decisions at a reasonable cost (for example, 85% accurate and 65% complete).
Data audits are carried out to measure the degree of confidence and accuracy that a company's database possesses. It also measures how fit is the company's data regarding the specific use the company is giving to it. The audits must also estimate the possible impact of low quality data and how it could affect the company's performance and overall financial results.
