What are the Benefits of a Financial Audit?

[Suba]

Even though businessmen or entrepreneurs have carried out and recorded all financial transactions, many have even made financial statements and had them checked by internal auditors, investors and tax offices often doubt the validity of the financial statements presented so they must be audited by independent auditors or public accountants. What do you think are the benefits of financial audits carried out by public accountants?

 

[Starmix]

The commission on. audit determines fraud acts done by a corporation. Through audit one will know some manipulations done by the company through its in house accountants.

 

[Fidelia]

The truth is that some financial statements can even be doctored. A financial audit would expose such fraud so that it would not affect the business before regulatory authorities when they find out.

 

[Kross]

Financial audits are like fact finding to unearth any irregular practices in the statement of account. It is very important to prevent fraud.

 

[Springtime]

In my city, all limited companies are required to hire a public accountant to do financial auditing. It helps to identify any faults or irregularities in the company's financial statements.