Despite of the reason that audit of financial statements is a statuary requirement, however it also dispenses several lucrative factors such as a) better control on voluminous financial data b) assure accuracy and appropriateness of records c) improvement and monitoring of entity’s internal control policy d) assurance of compliance with corporate and local laws e) revamping of overall workflow f) assurance of better recording of transactions and number of other favorable factors. Moreover, audit of financial statements always improve the quality of financial data. This aspect usually culminates in better and prompt decision making about financial matters because everyone knows that, better quality of financialRead More →