Audit of financial statement is an independent verification on whether the financial statements are prepared in all material respects, in accordance with an applicable legal and financial framework. The main purpose of audit is to enhance the degree of confidence of intended user
Auditing is conducted on personal features and interests of all degrees of users: shareholders, managers, other users.
Audit report defines:
Verifying of financial statements
Recommendations for managers for business activity
Corporate liquidity
Corporate solvency