Is it required to conduct regular audits? An "independent review of the financial records of any company, whether profit-oriented or not, regardless of its size or legal form, when such an examination is done to express an opinion thereon" is referred to as auditing. The review and verification of a company's financial records are described by the accounting word "audit," which is significant. Audits are also carried out to confirm that financial statements are prepared in accordance with the applicable accounting standards. Browse through this PPT to learn more about the subject.

Ananthu Sibi

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