--%>
Assignment Help - homework help

Audit

 

A term usually referring to a financial audit is a set of procedures performed by accountants from a certified public accountant (CPA) firm. The procedures are designed to investigate and verify the accounting information that manage- ment puts in financial report. When the audit is completed, the accounting firm issues an opinion on the fairness of the financial statement, not on how well the company is performing. The Exchange and Securities Commission require all companies that have publicly traded stock to present their annual financial report with audited financial statement. The financial statements are supposed to give investors the information necessary to evaluate the company's performance and make good invest- ment decision. The audit lends credibility to the financial state- ments presented by managers of the company. Many financial institutions also require audited financial statements before lending money to an entity.

 

 

 

 

   Related Questions in Auditing

  • Q : Functions of Internal Audit Elucidate

    Elucidate various Functions of Internal Audit?

    		•
  • Q : Explain Marketing Audit Marketing Audit

    Marketing Audit: One of the most fundamental parts of marketing planning process is marketing audit. It is conducted both at the beginning of the process and also in between the series of points during the implementation of plan. Both internal and ext

    		•
  • Q : Objectives of Internal Audit Write down

    Write down the main Objectives of Internal Audit?

    		•
  • Q : Audit A term usually referring to a

      A term usually referring to a financial audit is a set of procedures performed by accountants from a certified public accountant (CPA) firm. The procedures are designed to investigate and verify the accounting information that manage- ment puts in financial report. When the audit i

    		•
  • Q : Importance of internal audit to the

    Write down the importance of internal audit to the organization?

    		•
  • Q : Auditing around the computer Audit

      Audit procedures that ignore the actual computer processing part of business activities. A sample of input is tested and verified through standard audit technique, and the output is checked. Auditing around the computer assumes that if the output rights, then the processing is righ

    		•
  • Q : Provision for doubtful debts account

    Write all the Steps for making provision for doubtful debts account?

    		•
  • Q : Audit report A signed letter from the

      A signed letter from the auditor of a company, included in the annual report, that state whether or not the finan- cial statements fairly present the results of operations and the financial position of the company. An annual audit is required by the Exchange and Securities Commissi

    		•
  • Q : What are Financial Audits Financial

    Financial Audits: It is a financial audit and is the critical analysis of the business's financial records and documentations. This can be completed at any level, from local to governmental. The financial profile or financial audit of the company will

    		•
  • Q : Audit committee A subgroup of the board

      A subgroup of the board of directors composed of directors who are independent of an organization and not employed by organization. The committee acts on behalf of the full board and all stockholders to check on management actions and it has responsibility for the soundness of the

    		•