The objective of an audit of financial statements is to enable the auditor to express an opinion on whether the financial statements are prepared in accordance with the applicable accounting framework. It provides reasonable assurance that the financial statements are free from material misstatements, which adds credibility to the financial statements. The audit enhances the reliability of the information presented, which is vital for shareholders and other stakeholders who rely on the financial statements for decision-making. The audit also reassures shareholders that the financial statements are free from fraud or error, although it is the directors’ responsibility to detect and prevent fraud. Additionally, an audit serves as an independent evaluation to determine whether financial statements give a true and fair view, which is crucial for capital market confidence, especially for large companies. Finally, auditors must be independent and qualified under legal frameworks such as the ICAG, which maintain the credibility of the auditing profession.