--%>
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 : Introduction of the term Internal Audit

    Give a brief introduction of the term Internal Audit and also write down the Role of Internal Audit?

    		•
  • Q : What are Operational Audits Operational

    Operational Audits: It is a review of how an organization's management and its operating events are functioning with respect to their efficacy and efficiency in meeting stated objectives. For illustration, a business might execute an operational audit

    		•
  • Q : Calculate the internal control audit

    Tell me that how we can calculate the internal control audit?

    		•
  • Q : Objectives of Internal Audit Write down

    Write down the main Objectives of Internal Audit?

    		•
  • Q : Marketing audit for banking industry

    Marketing audit for banking industry will be developed based upon following features: A) It will help and support the top management in identification and management of risks. B) It will help in evaluating th

    		•
  • Q : Functions of Internal Audit Elucidate

    Elucidate various Functions of Internal Audit?

    		•
  • Q : Explain briefly statutory audit Explain

    Explain briefly statutory audit?

    		•
  • 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 : 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 : 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

    		•