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What is unqualified audited financial statement?
Unqualified audited financial statement is set of financial statements which are audited by external financial auditors and found "True and fair view" of financial statements and clear from any fraud etc.
Must audited financial statements be signed by the auditor?
Yes audited financial statements are jointly signed by auditors as well as management of company as an acknowledgment.
When did CPAs begin auditing financial statements?
Since the early part of the twentieth century, CPAs have audited financial statements.
Does an independent CPA audit Wal-mart's financial statements?
who audited walmarts finacial statements
What are the benefits of auditing your financial statements audited?
To know if it is within the standard and to know the correctness of them.
Is it acceptable practice to use unaudited reports for financial analysis?
You can analyze un-audited financial statements, buy you have to keep in mind that your ratio analysis, vertical analysis, and comparative analysis may be (probably are) inaccurate as to the companies 'real' financial position. You'd have to take any un-audited analysis results with a grain of salt. If you're buying a business, the seller should pay for the audit, or make sure there has been an audit of the statements in the past 2-3 years atleast so you can work with something real.
What accounting firm audits barnes and nobles' financial statements?
As of their most recent annual report (2011), the financial statements of Barnes & Noble, Inc. were audited by the accounting firm BDO USA, LLP
Should quarterly financial statement be audited?
In the US, there is no law requiring that quarterly financial statements be audited.Financial statement audits are extremely expensive and time-consuming, so there should be some compelling reason for a company to have its financial statements audited.For the typical US company, the expense of having its financial statements audited is probably not worth any benefit it might receive as a result of the audit, and for US nonpubliccompanies, audits are not required by law. An outsider such as a bank might want to see audited financial statements from a prospective borrower, but even then, audits are so expensive that this would be relatively rare. The company might need another loan just to pay for the audit!However, publicly owned companies (companies that sell shares of stock to the general public), howver, are required by law to have an annual audit of their financial statements by an independent CPA. This is to help protect the public.However, not even publicly owned companies are required to have their quarterly financial statements audited. Only their annual financial statements must be audited.Although public companies must submit quarterly financial report information to the SEC, the first three quarters' financial statements need only be "reviewed" by an independent CPA. A review involves limited testing procedures that are much less in-depth and time-consuming (and expensive) than audit procedures, and this permits the company to submit its financial information to the SEC on a timely basis. However, the fourth quarter report submitted by a public company must include audited financial statements for the entire year.
What is a notice to reader financial statement?
A notice to reader refers to the level of assurance the financial statements have undergone, which is none, thus the report must notify the financial statement users that the financial statements have not been reviewed (higher degree of assurance) or audited (highest degree of assurance).
How many years are covered in each of the primary comparative financial statements?
Normally two, the most recently audited and the previous year.
What are audited financial statements?
balance sheet profit and loss acount trail balance cash flow and funds flow ....are the main
What is the primary objective of financial accounting?
its primary objective is to provide external reports called financial statements to help users analyze an organization's activities.
