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Benefits of an audit However, some companies audited financial statements, and particularly public companies, are on public record. For large public companies, they may also be used by other parties for varying purposes (see the chart below).
All Single Audit reporting packages, with the possible exception of Indian Tribes and Tribal Organizations, submitted under Uniform Guidance are available to the public on the Federal Audit Clearinghouses Image Management System (IMS) per 2 CFR 200.512(b)(1).
Final/completed audit reports are public information. Audit working papers are not.
Locating the Auditors Report In these cases, auditors reports can be found in annual reports immediately prior to the financial statements. In other cases, auditors reports can be found either as a separate document or attached to the businesss financial statements.
Auditors examine, analyze, and interpret accounting records to prepare financial statements, give advice, or audit and evaluate statements prepared by others. or advise on systems of recording costs or other financial and budgetary data.
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The role of the auditor or reviewer is to give a professional and independent on these financial statements. The review or audit of an associations financial report can ensure greater accountability to the members and provide an assurance that all funds received by the organisation have been correctly accounted for.
The tax audit report is to be electronically filed by the chartered accountant to the Income-tax Department. After filing of report by the chartered accountant, the taxpayer has to approve the report from his e-fling account with Income-tax Department (i.e., at ).
Auditors are finance professionals who perform audits they review financial statements, internal processes, and transaction records to assess accuracy and completeness. Internal auditors typically work for the company they audit and guide management on improving recording and reporting processes.

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