Types of Audit
One way to solve these problems is audit — an independent inspection of accounting (financial) statements, an objective assessment of activities of economic entities (enterprise, project, product, etc) based on available financial documents.
Mandatory audit (i.e. required by law) has a primary objective to check whether annual pro-forma financial statements are drawn up correctly, and whether tax calculations are complete.
Voluntary audit (i.e. the one initiated by company’s owners or management) is a choice of companies that want to strengthen and improve their market positions.