An audit involves the examination of the financial reports (prepared by the management of the company) to ensure that they represent what they claim and conform with IFRS.

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An audit is conducted to provide assurance to the users of financial statements that the information provided is accurate, complete, and in compliance with the relevant reporting standards, such as IFRS. The audit process involves examining the company's financial reports, such as the balance sheet, income statement, and cash flow statement, as well as other relevant documentation and data, to identify any material misstatements, errors, or omissions. The auditor then provides an opinion on the fairness and reliability of the financial information presented in the reports based on the audit evidence obtained.

An Audit Involves the Examination of the Financial Reports (Prepared