Auditing
An audit is a scrutiny of company¡¯s financial and accounting records by a qualified and independent auditor. As a result, an opinion should be given by the auditor whether the financial statements show a true and fair view of the results and the financial position of the entity. However, it is not a 100% assurance. In the business world, a well prepared audit is required by the law for any limited and public company except those very small ones. But, rather than a duty, an audit can bring benefits to the company as well. For example, it can help to raise capital. Nowadays, many investors are using financial statements to start learning how a company is doing.