Audits of Financial Statements

This is a service provided by a Certified Public Accountant where they examine the financial statements and related information, and express an opinion on whether or not those statements "Fairly represent the results of the performance of the company for the period of time covered." This is perhaps the most costly service that a CPA has to offer. No one else has the right to express such an opinion. Large corporations and large companies that have absentee owners, are typical utilitzers of this service. Along with smaller business that have loans from banks, or large insurance policies that require an audit. Often an organization that receives Federal Government Grants, requires an audit. The users of these financial statements are usually banks, insurance companies, absentee stockholders, prospective investors and the government. Due to the fact that much of the decision of these users is based on the information that they obtain from these statements, audits are normally quite time consuming and expensive.

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