To assist management in identifying and controlling business risks.
To ensure that accounts are free from material misstatements.
To ensure that accounts give a true and fair view of the financial position of the company and its operating results.
To have a moral check on the company personnel – staff and directors.
To seek external professional advice on operating efficiency and growth.
To ensure proper accounting systems and controls are operating in the company.
To ensure that information reports are generated accurately and timely for management decisions.
To comply with relevant laws requiring the audit of accounts.
To ensure fair distribution of profits to shareholders.
To assist in valuation of business.
To assist in obtaining bank finance, entering into business arrangements.
To ensure that accounting is done as per International Financial Reporting Standards and proper accounting policies relevant to the business are adopted by the company.