Some of the notable advantages or merits of audit note book can be pointed out as follows:
1. Helps Preparing Audit Report
Audit note book helps the auditor to prepare final audit report of the business.
2. Future Reference
Audit note book provides past business information to the audit staff. So, it can be used as future reference.
4. To Measure Staff Efficiency
3. Helps New Auditor
Audit note book records all the weakness, errors and difficulties of previous year. So, new auditor can easily understand the complexities of the business.
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Audit note book helps the auditor to measure the working efficiency of his/her audit staffs.
5. Legal Evidence
Auditor can present audit note book as legal evidence in the court if he has been accused of negligence or misfeasance.
