The audit report is aimed at the financial statements of the audited company, which have no major errors and truly reflect the financial status on the statement date.

If a company goes bankrupt, liquidates, or suffers losses due to financial reasons, if the audit company fails to discover what it should have discovered, or if fraud is not explained, it will bear corresponding legal liability.

Independence is for auditors, so there should be no such problem. As for credibility, formal auditing companies generally will not cheat.