--%>
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 : What is Audit Management Audit

    Audit Management: It is a systematic assessment of processes and policies of an organization's management in the administration and the utilization of resources, tactical & strategic planning, and employee and organizational enhancement.

  • Q : Explain the term vouching Briefly

    Briefly explain the term vouching ?

    		•
  • Q : Scope of internal audit How can scope

    How can scope of internal audit aid you?

    		•
  • Q : Calculate the internal control audit

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

    		•
  • 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

    		•
  • Q : Portfolio manager uses a T-bond futures

    1. A portfolio manager uses a T-bond futures contract to hedge a bond portfolio over the next 4 months. The portfolio is worth $75 million and will have duration of 5 years in four months. The futures price is 118 and each contract is for $200,000. There are three bon

    		•
  • Q : Business-Government-NGO-Professional

    What are the difference between Business versus Govt. versus NGO revenue versus Professional revenue?

    		•
  • Q : Auditing how long will it take and how

    how long will it take and how much will u charge

    		•
  • Q : Internal audit differ from an external

    How does the internal audit vary from an external audit?

    		•
  • Q : Company name: EMPIRE OIL & GAS NL The

    The length of the writing / reportmust not exceed 1000 words. Words in Bibliography or Reference Lists section are not included in the word count. 3 marks will be given for the contents (sources and understanding of industry and able to link audit objectives with findings); 1 mark will be given ba

    		•