Purchase of this book includes free trial access to www.million-books.com where you can read more than a million books for free. This is an OCR edition with typos. Excerpt from book: CHAPTER II THE PURPOSES AND ADVANTAGES OF AN AUDIT The average business man is not familiar with the purposes and advantages of an audit. A small minority have retained professional auditors and have gained their impressions of what an audit should be from the experiences growing out of such employment. Where the auditor possessed a broad vision and had the advantage of long and varied experience, the result was a revelation to the business man. He found the value received so greatly exceeded the cost of the service that the relation became a continuing one. The client advised other business men to do likewise, and so the practice of the skillful auditor expanded. But why is it that so many business men have never availed themselves of the opportunity to secure a service which has proved to be so valuable to their competitors, and why is it that many practitioners have not succeeded in enlarging their practice during the last few years, while a considerable number of auditors have built up large organizations and now have intrusted to them a very large volume of work? It must be that the business man who does not employ professional auditors is ignorant of the advantages of an audit, and that the would-be auditor who fails to secure enough engagements lacks the full conception of the objects of an audit, and therefore fails to create the proper impression upon the clients whom he does obtain. It follows that he will not be called upon for subsequent service, and naturally he is not recommended to the friends of his client. The author has had nearly twenty-four years' experience in professional auditing in the United States. During this time there has been a vast development in commerce and finance and the science of auditing has made equal strides. But this latter f... --This text refers to an alternate Paperback edition.