Owners of a company who are not involved in the management of the company derive value from a third party opinion on the truth and fairness of the company’s financial statements.
Accounts that are audited give the company a stamp of credibility and results in less hassle in taking up loans with banks, disposing off the business, and better able to attract investors.
Helps the management to make better decisions.
(Please refer to paragraph 4 below on small company concept for audit exemption)
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