ADVANTAGES TO BUSINESS
Advantages of audit for the business are:

1. Satisfaction of Owner It is because of audit that the owner will be satisfied about the business operations and working of its various departments.

2. Detection and Prevention of Errors The errors whether committed innocently or deliberately are discovered by the process of audit and its presence prevents their occurrence in the future. No one will try to commit an error or fraud as the accounts are subject to audit and hence they will have a fear of being detected.

3. Verification of Books Another advantage of audit is the verification. of the books of accounts, which helps in maintaining the records up to date at all times.

4. Independent Opinion Auditing is very useful in obtaining the independent opinion of the auditor about business condition. If the accounts are audited by an independent auditor, the report of the auditor will be true and fair in all respects and it will be of extreme importance for the management of the company.

5. Detection and Prevention of Frauds Just like errors, frauds are discovered by audit and its presence minimizes future possibility if not eliminated totally.

6. Moral Check
The process of audit will establish a check on the minds of the staff working in the business and they will not be able to commit any irregularity, as they will have a fear and will also be aware that the accounts will be examined in the near future and that action would be taken against them if any irregularity is discovered. Thus the audit prevents the happening of any irregularity before it starts and the staff hence becomes more active and responsible. The fear of their getting caught act as a moral check on the staff of the company.

7. Protection of the Rights and Interests of Shareholders Audit helps in