It consists of gathering and evaluating evidence to test the conformity of the statements with generally accepted accounting principles. An audit is designed to provide the users of financial statements reasonable assurance that the financial statements present the financial position and results of operation in conformity with those principles. Perhaps a client does not need the extensive procedures and assurance of an audit. Business clients need a comprehensive strategic plan. Other advisory services include computers and management information systems, personnel practices, inventory control, and relations with lenders or funding agencies.
Modern business is fast, changing environment.