Accounting firms that audit the financial statements of nonpublic entities in the united states are required to comply with the auditing standards established by the pcaob. False
Financial statements are written records that outline a company's operations as well as its financial success. Government organizations, accounting firms, and other entities frequently audit financial statements to assure their accuracy and for reasons related to taxes, financing, or investment.
Financial statements that are necessary to have are the cash flow statement, balance sheet, and income statement. Trades can use these three statements to quickly assess a company's financial health and underlying worth. They are useful tools for traders to measure a company's financial strength.
In order to protect the public interest, the Sarbanes-Oxley Act of 2002 established the Public Company Accounting Oversight Board, a nonprofit organization, to supervise the audits of public companies and other issuers.
To know more about financial statements visit:
https://brainly.com/question/24296949
#SPJ4
