what is audit for and the important of audit?

Answer 1

It's an independent review of a business's finances. It gives you outside information that a business is following proper accounting practices and the information is truthful, legal, and accurate. Important because the business can be telling you anything so this is someone else guaranteeing the results are actual. If they aren't you can sue them.

Answer 2

an audit is used to make sure all funds are spent and earned honestly. an audit is important in that it keeps the company clean and honest and open to inspection by the government. it is also important to do joint ventures especially with countries like china who have little or no accountability.