Value of Audits For a Business
- Thread starter Hate2Wait
- Start date
The reason why most companies refused to pass the audit test osz because they don't want their accounts or financial records to be made public. With the avoidance f that, it would be very possible or them to commit tax evasion or paying correct taxes to the government.
In my location, it is mandatory for private and publicly listed companies to have a certified accountant to audit their books on a annual basis. This is to ensure that there are no flaws in the financial records of the company.
I agree but audits can also highlight areas where the company is excelling Its not just about finding problems its about recognizing strengths too.
absolutely no doubt there can be dishonesty going on in any business so we can never take a risk and we should always be pre prepared fir such events to be true and taking actions if needed accordingy .
Audits are so important for any business big or small. They help to ensure that the financial reports are accurate so that the business would not fall abruptly.
