Advantages of an Audit

The advantages of having an audit include:

• Independent check on the company's financial position and performance
• Adds credibility for external users of financial statements including banks and future investors
• Auditors can provide business advice

The Auditors' Code

There are 9 principles that guide the conduct of auditors:

• Accountability
• Integrity
• Objectivity and Independence
• Competence
• Rigour
• Judgement
• Clear communication
• Association

Auditor

Auditor
An auditor is an accountant tasked with carrying out an audit. Audits are a regulatory requirement for certain sized firms.