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Hello.
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In this video we're going to discuss first the reasons why financial statement audits are important.
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And second is who are the groups that benefit the most from the audit reports.
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So let us discuss first the question, why is it important? first and foremost, an audit or a financial audit increases the value and credibility of the financial statements, produced by management, and thus it increased user confidence in the financial statements.
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So again, it increases the value and credibility of the financial statement.
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Increases value and credibility of the financial statements.
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Second, the company can use the auditor's report to promote accountability for the managers and employees in the company.
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Individual employees may focus more in dependable accounting and management if they know that the company is regularly audited.
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So it promotes accountability for the managers and employees.
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For the managers and employees...