Financial statements auditing is the review of an entity’s annual financial statements for the purpose of allowing an independent auditor to express their opinion over the true and fair view in preparing and presenting financial statements again the specific accounting standard and framework.
An auditing of financial statements could ensure that the quality of financial information that flows to these group of people are true and fair. And the key decision that they make by using audited financial information will be in the best opinion.
Compliance with the law of the country or territory that the entity is operating in is very important. Having their financial statements audited annually by qualified auditors and then submitted to relevant government bodies could help the entity comply with statutory audit requirements. And avoid any penalty that could significantly affect the entity.
The audit of financial statements could help improve your management’s integrity, especially when the result of the audit proves that the financial statements are true and fair view.
Having us as your auditor to audit your company’s financial information could help the management team to access the expertise held by us as an audit firm. Wouldn’t you love that?
We could also Improve internal controls by helping to review the accounting system, procedure, people, and process of your entity which will help you to improve your key internal control that could minimize fraud risks and errors. This also increases trust from other organizations, creditors, banks, and government authorities.
The financial statement audit is an essential part of any business, as it provides a summary of the company’s financial performance. Companies produce financial statements that provide information about their financial position and performance. This information is used by a wide range of stakeholders (e.g., investors) in making economic decisions. Typically, those that own a company, the shareholders, are not those that manage it