One of the reasons there is a demand for financial statement audits is that users of financial statements often lack accounting and legal knowledge to fully understand complex accounting and disclosure choices.

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Users of financial statements may include investors, creditors, regulators, and other stakeholders who may not have expertise in accounting or legal matters. As financial statements contain complex information and disclosures, financial statement audits provide assurance to these users that the financial statements are prepared in accordance with accounting standards and provide a fair view of the company's financial position and performance.

One of the Reasons There Is a Demand for Financial