Question

What are the advantages of the audit of a partnership firm?

Answer 1

Advantages of Audit to a Partnership Firm. A partnership firm may be benefited in the following respects if it gets its accounts audited by the qualified auditors: 1. Partners can get an unbiased and independent opinion on the true state of affairs of the financial position of the firm.

Answer 2

Advantages of audit of partnership firm

Explanation:

Audit is the inspection of books of account by an internal or external person known as auditor . it is good for all type of business activity. for few types of business even it is made mandatory. it has the following advantages to the partnership firm.

• it gives a true a fair picture about the conduct of the business as the auditors will go through the books of account in detail and will find out if there are any mistakes or not.
• the partnership firm will keep their accounting work up-to-date so that they need not to rust in case of audit.
• since books of accounts are up-to-date , work becomes easier at the time of admission of new partner, retirement of existing partner etc.

Learn more:

Advantages of audit for partnership

https://brainly.in/question/8014930