What is the purpose of auditing?

[Good-Person]

Many people believe that the main purpose of auditing is to evaluate and analyse the overall expenditures and profitability factor involving any kind of business or financial corporation. So, is this the only reason why companies hire auditors?

 

[Kane]

The primary purpose of auditing is to determine how much tax you will be paying to the government. An auditor will check your income and expenditure and based on your revenue, you will have to pay taxes.