What Are The Advantages Of Audit To Owners?


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Amen Bukhari Profile
Amen Bukhari answered
Auditing is beneficial for business. The auditing determines the efficiency of employees. The trained and qualified management is an asset for any business. Such management can play dynamic role in framing and implementing the policies. Auditing is essential for business. The audited accounts are helpful to settle the dispute. The audited accounts become the basis of making decisions. The dispute may relate to infringement of patents or trade marks.

Auditing is helpful for business. The audited accounts present true and fair view of business activities. The facts and figures can be used to prepare budgets and estimate for the next years. The projected cash receipts and payments, income statement and balance sheet can be prepared. Auditing is helpful for business. The auditor can point out the weakness of internal control system. The business management can take steps to remove these weaknesses. The effective internal control system is essential for large scale business enterprise.

Auditing is helpful for business. The auditor can make the detail study to find the reasons of fluctuation in profit. There are various reasons for charges in profits. The auditor can determine the true cause of such changes.

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