A company should be audited annually to ensure continued proper financial reporting.

Question

Quizplus · Accepted Answer

An annual audit helps ensure that a company's financial statements meet generally accepted accounting principles and accurately reflect the company's financial performance. It also helps identify any potential errors, fraud or noncompliance issues, allowing for prompt corrective action to be taken. Regular auditing helps build trust and confidence in a company's financial reporting, benefiting stakeholders such as investors, creditors, and regulators.

A Company Should Be Audited Annually to Ensure Continued Proper