Disadvantages of an Auditor

  1. It is an expensive operation because audit fees and audit expenses are usually too high for small companies.
  2. If the report arising out of audit is bad, it can lead to the failure of the business (a qualified report).
  3.  An audit may not be ideal for small business whose transactions are too few.
  4. An audit may not in most cases be in the interest of the owners, especially if they are the managers in which case they may end up frustrating the entire process.
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