Objectives of having an audit:

The primary objective of having an audit is to enable the auditor to form and express a professional and independent opinion on whether the financial statements give a true and fair view of the financial position of the company and of its profit and loss for the period under review.

Other objectives are;

i) To ensure that the financial statements comply with any relevant statuary requirements, e.g. Companies Ordinances.

ii) To detect fraud and error in accounting records.

iii) To provide advice to client for improvements to financial systems and controls with in the business.

iv) To prevent fraud and error and improve the efficiency of operations.