The owner is satisfied with the audit's findings regarding how the business's various departments are operating. The audit aids in the finding and stopping of mistakes and fraud. The audit assists with maintaining records and checking the books of accounts. Through auditing, the independent auditor's opinion is obtained, and this is vital information for the management of the business. The audit creates a moral check on the company's employees so they are aware of not engaging in any irregularities. The staff becomes more responsible and engaged as a result. In the case of a joint stock company, an audit safeguards the interests of the shareholders by ensuring that their accounts are being managed properly and that their interests won't be jeopardized in any way. Stakeholders like creditors, holders of debentures, banks, etc. gain confidence thanks to audits.
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