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What is audit files?

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Anonymous

10y ago
Updated: 6/29/2022

audit files contain information relating primarily to the audit of a current period.

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Lisandro Veum

Lvl 10
3y ago

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What is current audit file?

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Answer:Investors usually cannot verify the amount of accounts receivable. In order to do this, investors would need to perform an audit. This is why an audit by an external auditor has value to investors. The auditor visits the copmay to perform an audit. While performing the audit, the company is supposed to give the auditor full access to all files/records. The auditor reports its findings of the audit in the annual report.


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