SP Ltd was established in June 2020 to produce medicine. The shares are owned equally by two executives and two non-executive directors. The companys revenue increased steadily over the first two years of trading. The results for the first year of trading indicated an operating profit margin of 15% and the management accounts for the second year of trading indicate that this has increased to 18%. The directors are currently negotiating a contract worth TK 600,000 to supply a major retailer which has over 100 outlets throughout the country. The company will require an increased overdraft facility to fulfill the order. The finance director has prepared a business plan for submission to the companys bankers in support of a request for a large overdraft facility. The plan includes details of the companys products, management, markets, methods of operation and financial information. The financial information includes profit and cash flow forecasts for the six months ending 31 December 2022 together with details of the assumptions on which the forecasts are based and the accounting policies used in compiling the profit forecast. The companys bankers require this financial information to be reviewed and reported on by independent accountants. The company was required by its bankers to have an audit of its F/Ss for the year ended 30 June 2021. Requirement: What are benefits of audit for the company?