Monkey’s Audio is a fast and easy way to compress digital music. Unlike traditional methods such as mp3, ogg, or wma that permanently discard quality to save space, Monkey’s Audio only makes perfect, bit-for-bit copies of your music. That means it always sounds perfect – exactly the same as the original. Even though the sound is perfect, it still saves a lot of space (think of it as a beefed-up Winzip™ your music). The other great thing is that you can always decompress your Monkey’s Audio files back to the exact, original files. That way, you’ll never have to recopy your CD collection to switch formats, and you’ll always be able to perfectly recreate the original music CD.
References:
en.wikipedia.org/wiki/Monkey%27s_Audio
en.wikipedia.org/wiki/Category:Lossless_audio_codecs
en.wikipedia.org/wiki/Comparison_of_audio_coding_formats
wiki.hydrogenaud.io/index.php?title=Lossless_comparison#Monkey.27s_Audio_.28APE.29
The Audio File 