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The primary reason for an audit by an independent, external audit firm is to Satisfy governmental regulatory requirements. Guarantee that there are no misstatements in

The primary reason for an audit by an independent, external audit firm is to

Satisfy governmental regulatory requirements.

Guarantee that there are no misstatements in the financial statements and ensure that any fraud will be discovered.

Provide increased assurance to users as to the fairness of the financial statements.

Relieve management of responsibility for the financial statements.

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