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Audit and assurance

Diksha Verma (14 Points)

12 January 2020

Why do we need audit of financial information?

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3 Replies

Sunil Ahmad (Student) (1511 Points)
Replied 12 January 2020

# To know how business is going on.
# Reliable and accuracy.
# To know your remarks/mistakes.
# To check perfect accounting.
# By auditing regularly, stakeholders may know the success of your business and increase trust worthy.
# Improve credit rating.

sabyasachi mukherjee (26057 Points)
Replied 12 January 2020

Audit of financial information is being carried out for the following purposes:
1.ascertain true and fair affairs of the organisation.
2. as certain the financial information is in conformity with the records .
3.is in conformity with the statutory provisions as applicable.