An independent audit adds value to the communication of financial information because the audit Confirms the exact accuracy of management 's financial representations
The regular audit of financial statements by an independent auditor's goal is to offer an opinion on whether or not the financial situation, operational performance, and cash flows are fairly presented in accordance with generally accepted accounting standards in all material respects. The auditor states his opinion in his report, or, if necessary, disavows it, depending on the situation. In either scenario, Independent auditor specifies whether his audit was conducted in compliance with PCAOB rules.
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