An audit is a systematic and independent examination of books, accounts, statutory records, documents and vouchers of an organization to ascertain how the financial statements, as well as non-financial disclosures present a true and fair view of the organization. Objectives of Audit to your Business can not be over emphasized.

Auditing is a means of evaluating the effectiveness of a company’s internal controls. Maintaining an effective system of internal controls is vital for achieving a company’s business objectives. As a result of this, it must be treated with high priority. In obtaining reliable financial reporting on its operations, as it consequently, preventing fraud and misappropriation of its assets, and minimizing its cost of capital. Both internal and independent auditors contribute to a company’s audit system in different but important ways, so therefore, audit is very key to the going concern of every organisation.

Audit can also be seen as an official inspection of financial, performance, environmental or operational activities of an entity (private or corporate).

Having an effective audit system is important for a company because, it enables it to pursue and attain its various corporate objectives. Business processes need various forms of internal control to facilitate supervision and monitoring, prevent and detect irregular transactions, measure ongoing performance. It also help to maintain adequate business records and to promote operational productivity. Audit review the design of the internal controls and informally propose improvements, and document any material irregularities to enable further investigation by management.

objectives of audit to your business
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Types of Audit
In general, an audit is an investigation of an existing system, report, or entity. There are a number of types of audits that can be conducted, including, but, not limited to the following:

Financial Audit
This is an analysis of the fairness of the information contained within an entity’s financial statements. It is conducted by an audit firm, which is independent of the entity under review. This is the most commonly conducted type of audit....https://www.sowprofessional.com/objectives-of-audit-to-business/