What is the purpose of the audit?

The purpose of an audit is to provide an independent examination and evaluation of an organization's financial statements, processes, and controls to ensure they are accurate, reliable, and in compliance with relevant laws and regulations. Audits help to provide assurance to stakeholders, such as investors, creditors, and regulators, that the organization's financial information is trustworthy and transparent. Additionally, audits can help identify areas for improvement and provide recommendations for enhancing efficiency and effectiveness within the organization.

The purpose of an audit is to provide assurance that an organization's financial statements are accurate, complete, and presented in accordance with applicable accounting standards. An audit also assesses the effectiveness of the organization's internal controls over financial reporting.