Disadvantages / Limitations of Audit

Top Audit Terms You Must Know! Audit, Test Checking, Audit Work Papers (Series 7)

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Auditing is nothing but the systematic and critical examination and verification of the books of accounts. It can be undertaken throughout the year or periodically.
The primary aim is to find out whether the financial statements exhibit a true and fair view of the business.

What Is Audit? Meaning, Objectives, Practical Procedure, Advantages, Disadvantages

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Audit is an examination of accounting records, undertaken with a view to establishing whether the correctly and completely reflect the transactions to which they purport to relate. It is the systematic and critical examination and verification of the books of accounts.