The owner is pleased with the audit's conclusions regarding the performance of the company's various departments. The audit assists in identifying and preventing errors and fraud. The audit supports keeping records and reviewing financial records. The independent auditor's opinion is obtained through auditing, and this information is crucial for business management. The audit serves as a moral reminder to the staff of the business to refrain from any irregularities. As a result, the staff becomes more accountable and motivated. An audit protects the interests of the shareholders in a joint stock company by making sure that their accounts are being managed properly and that their interests won't be jeopardized in any way. The confidence of stakeholders like banks, creditors, and holders of debentures is increased by audits.
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