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main benefit is that any process or operational deficiency that the auditor finds
can be corrected or improved quickly. In addition, many companies rely on their
finances to calculate tax returns, which would be incorrect due to misstatements,
which would result in tax penalties and interest. Valid accounting information
can help homeowners secure external financing from lenders and investors.
External audits can help educate business owners about the importance of
accounting information in dietary companies often work closely with external
auditors to improve their accounting process. External auditors can provide
information on current accounting problems. Audit firms can also provide free
educational seminars to owners to improve the accounting process of their
companies. Creating a personal relationship with an audit firm provides a
professional point of view for future accounting questions.