Objective of Audit

1

Meaning of objective

As per SA-200 "Overall Objectives of the Independent Auditor", in conducting an audit of financial statements, the overall objectives of the auditor are:

(a)To obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement ; and

(b)To report on the financial statements, and communicate as required by the SAs, in accordance with the auditor's findings.

1st objective

Reasonable Assurance

2^nd objective

To report on financial statement.

If stated incorrectly can impact company’s long term sustainability or might bring the company on verge of insolvency in future.

3^rd objective

To ensure that financial statement as a whole  are free from material misstatement

4 th objectives

To communicate as required by SAS