The recent financial downturn and continuing economic global crises have caused some users of financial statements — investors, lenders or financial analysts — to question if auditors’ reports could ...

Financial statements are intended to present information about a business's financial performance and circumstances to interested parties so that financial decisions can be made on the basis of that ...

Financial statements comprise three important written records: the cash flow statement, the income statement and the balance sheet. Companies furnish financial statements to provide information on ...

When you apply for business funding, lenders and investors want to ensure they won’t lose money on your venture. That’s why bringing detailed financial statements to your pitch meeting is crucial.

To review why audit reports are significant and to understand the various types of reports that can be issued, let's begin with an explanation. An audit report represents an independent evaluation of ...

The International Auditing and Assurance Standards Board (IAASB) issued guidance on the auditor’s responsibilities when dealing with financial statements that involve the auditor’s own work.

Charlene Rhinehart is a CPA , CFE, chair of an Illinois CPA Society committee, and has a degree in accounting and finance from DePaul University. Katrina Ávila Munichiello is an experienced editor, ...

The debate about responsible financial reporting has not been sidelined by the COVID-19 pandemic. In fact, the future of audit—and how it should adapt to changing stakeholder demands—has only grown in ...

Editor’s note: This version has been updated to reflect the fact the audit report was given as a “qualified” status by ...

We conducted our audit of the financial statement in accordance with the Standards on Auditing specified under Section 143 (10) of the Act (SAs). Our responsibilities under those Standards are further ...