The BABOK® v3 guide defines the purpose of verifying the requirements as follows:

If you ask yourself "Am I building the solution correctly?" you will ensure that you have always verified your requirements.

The task of verifying the requirements ensures that the requirements and designs have been defined in the correct way by the business analyst. A good-quality requirements specification is well written and easily understood by its intended audience. In a similar way, a good-quality model is a model that follows formal or informal notation standards and effectively represents reality.

It is essential that requirements and designs are prepared in a way that is effective and relevant to the intended purpose and meets the needs of the stakeholder.

Consider this real-world scenario:

The stakeholder's business need is to increase online customer sales. The business analyst analyzes this need and produces a requirements specification, showing some models to describe part of what will be required to build a new website. After a business analysis peer review of the requirements specification is carried out, it is found that the requirements specification is not complete and, in some parts, contains very inconsistent information in relation to the original needs of the stakeholders. After this verification activity, it is determined that these requirements are not yet ready to be presented to stakeholders for validation and some additional work is required.