Objectives and Advantages of auditing
Answers
Answer:
The main object of audit is the verification of the books and the financial statements of the company concerned. ... So audit main object and advantage is that fraud may be detected and prevented. Auditor may also suggest various methods of internal check which will prevent fraud.
The objective of an audit is to form an independent opinion on the financial statements of the audited entity. The opinion includes whether the financial statements show a true and fair view, and have been properly prepared in accordance with accounting standards.
An audit provides independent verification that the financial statements are a true and fair representation of the entity's current situation. This provides invaluable credibility and confidence to your organisation's customers/clients, stakeholders, investors or lenders and even potential buyers.
Explanation: