The process of auditing entails a systematic and independent review of an organization’s financial records, accounts, legal documents, and receipts to determine the accuracy and fairness of its financial statements and non-financial disclosures. It also aims to verify that the organization’s books of accounts are maintained correctly, as mandated by law. Any area can undergo an audit. Audits offer third-party assurance to various interested parties that the subject matter is free from significant errors. Following an audit, stakeholders are better positioned to assess and enhance the efficiency of risk management, controls, and the governance processes related to the subject matter.