A general audit is held to check the financial statements and physical assets, etc. of a company. The main purpose of the general audit is to provide assurance that the financial data has been presented accurately. or there is no input or writing error, cheating etc. For small businesses the audit can be carried out by the owner, family or friends. so no need to pay an accountant.
Should an Audit Financial Statement be Conducted?
- Thread starter Suba
- Start date
- Thread starter
- #3
If those who manipulate financial statements are internal accountants or company employees, those responsible to the law are the company's directors. But public accountants will never be willing to manipulate financial statements. Manipulation can be carried out by companies in collusion with tax officials. Actually there are types of Fraud Audit so that fraud can be uncovered easily.
