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Audit services are often imposed upon businesses by lending institutions in an effort to provide more competitive financing. Such services can be a valuable tool for partners and shareholders to better understand and rely on the accuracy of their investment returns. Many businesses have been trained to view audit services as an expense, however the benefits of an audit will very often outweigh any expense. An audit can help to discover material misstatements that may be negatively affecting the way your company does business, and an audit can provide evaluations of internal controls that help protect partners' and shareholders' capital investment.
Elliott, Robinson & Company: Where Clients Come First