Preface
Role of audit
Since its introduction, the need for certain companies’ financial statements1 to be audited by an independent external auditor has been a cornerstone of confidence in the world’s financial systems.
The benefit of an audit is that it provides assurance that management has presented a ‘true and fair’ view of a company’s financial performance and position. An audit underpins the trust and obligation of stewardship between those who manage a company and those who own it or otherwise have a need for a ‘true and fair’ view, the stakeholders