• The precision and thoroughness of the books of accounts.
• whether the company's financial statements give a genuine and accurate picture of its financial condition, financial performance, and cash flows.
• Whether or not financial statements were created in conformity with local laws and regulations as well as international financial reporting standards (IFRSs).

Authorities responsible for issuing licences, government agencies, management, shareholders, investors, banks, potential customers, internal auditors, etc., all demand an external financial audit.