Public, subsidiary or private large companies and those where shareholders request an audit can require company accounts to be independently audited.
The audit process is undertaken to make sure the financial reports produced by the company show a ‘true and fair’ view of the financial activity and position of the company. Any irregularities can be identified, assets and stock can be re-valued, company investments can be re-valued, bank data can be reconciled and regulatory requirements can be double-checked for adherence.
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