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What are Audit and Assurance?
The process of audit aims at evaluating and inspecting the financial records of the company to ascertain if the financial transactions, income and expenditures have been represented in the company’s financial record honestly and accurately. It is important to maintain honesty and transparency with the financial records of the company because it affects the investors, stakeholders, management as well as the end customers of the company. The process of an Audit takes into account the evaluation of accounting entries,