Ace the AFP Exam 2025 – Boost Your Financial Wizardry!

The main purpose of a financial audit is to provide an independent assessment of an organization's financial statements. This involves examining the financial records and processes to ensure accuracy and compliance with accounting standards and regulations. An independent auditor evaluates whether the financial statements present a true and fair view of the organization’s financial position. This assessment builds trust among stakeholders, including investors, creditors, and regulators, who rely on the credibility of the financial information for their decision-making.

While the other options touch upon aspects related to financial management, they do not capture the primary function of an audit. Increasing profitability is an operational goal that may be informed by financial audits but is not the purpose of the audit itself. Adjusting financial practices for maximum tax benefits pertains to tax planning and strategy rather than the audit process. Promoting internal financial controls is important in maintaining effective financial governance but is more an outcome of the audit process rather than its main objective. The independent nature of the audit is crucial for providing an unbiased evaluation of an organization’s financial health.