What is the main purpose of financial audits?

The main purpose of financial audits is to ensure the accuracy of financial statements. Financial audits are conducted to provide an independent assessment of an organization's financial performance and compliance with accounting standards. By scrutinizing financial records and transactions, auditors aim to verify that the financial statements reflect a true and fair view of the organization’s financial position. This helps instill trust among stakeholders, such as investors, creditors, and regulators, as they rely on accurate and reliable information for decision-making.

Other options do not directly relate to the core function of financial audits. Marketing strategies and employee performance evaluations are important aspects of a business but do not fall within the scope of what financial audits are designed to accomplish, which is specifically focused on financial integrity. Additionally, while increasing sales revenue is a critical objective for any organization, it is not a purpose of conducting a financial audit; rather, it pertains to business development and operational strategies.