Despite the continual increase in the burden of compliance with company law we see the benefits of retaining the audit as follows:

• Enhanced credibility with the revenue authorities.
• Audit can identify key areas of the business that need improvement and the auditor can work with the owners to improve the company's financial management.
• An audit gives assurance that the company has complied with its obligations under company law.
• An audit gives assurance to the customers ,suppliers and lenders in relation to the financial management of the business.