Financial Statements are often the basis for decision making by the management and for corrective action.
All this would be possible only if the financial statements are reliable and authentic. It is auditing which ensures that the financial statements are authentic & reliable.
The main objective of audit is to enable an auditor to express an opinion on financial statements prepared by the management, keeping in view the concept of materiality and its relationship with audit risk. Materiality
We conduct the following types of audit.