Final answer:
An Operational Audit is most likely to be conducted to identify areas for cost savings as it evaluates the efficiency and effectiveness of an organization's operations.
Step-by-step explanation:
The type of audit most likely to be conducted for the purpose of identifying areas for cost savings is a Operational Audit. This type of audit focuses on the efficiency and effectiveness of an organization's operations, including the identification of areas where costs can be reduced without negatively impacting the business's performance.
Unlike Financial Statement Audits, which are concerned with the accuracy of financial records, or Regulatory and Compliance Audits, which ensure adherence to laws and regulations, an Operational Audit delves into the operational aspects of the business to suggest improvements and potential cost savings.