Para 2.5.10 — MSO

2.5.10 The fundamental objectives of audit of accounts of companies/corporations are to ascertain whether the Financial Statements:

(i) present a true and fair view of the entity’s financial position;

(ii) are prepared in accordance with the Accounting Standards and laws, if any, governing the entities;

(iii) are presented with due consideration to the circumstances of the audited entity;

(iv) contain sufficient disclosures about their various elements, including any unusual items; and

(v) various elements thereof are properly evaluated, measured and presented.