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Who prepares audited financial statements?

Who prepares audited financial statements? Companies prepare financial statements to present to CPAs for assessment. These professionals then perform an audit and review the forms details and present them as audited financial statements.

Who conducts a financial statement audit?

Auditors are generally and ultimately appointed by the shareholders and report to them directly or via the audit committee (or its equivalent) and others charged with governance. However, some companies audited financial statements, and particularly public companies, are on public record.

Who issues audited financial statements?

An audited financial statement is any financial statement that a certified public accountant (CPA) has audited. When a CPA audits a financial statement, they will ensure the statement adheres to general accounting principles and auditing standards.

Who is responsible for audited financial statements?

. 03 The financial statements are managements responsibility. The auditors responsibility is to express an opinion on the financial statements.

Should the management representation letter be dated as of which date?

A management representation letter would ordinarily be dated the same date as the auditors report, although it may be dated and received later to confirm oral representations.

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Who is primarily responsible for audited financial statements issued to the public?

Understanding an Auditor They are tasked with tracking cash flow from beginning to end and verifying that an organizations funds are properly accounted for. In the case of public companies, the main duty of an auditor is to determine whether financial statements follow generally accepted accounting principles (GAAP).

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