Florida Certified Public Accountant (CPA) or Public Accountant Negligence and Breach of Contract State and Federal Court Litigation Attorney:
An audit is a professional examination and verification of a company’s accounting documents and supporting data for the purpose of rendering an opinion as to their fairness, consistency, and conformity with generally accepted accounting principles.
An “Auditor’s Trail” is a step-by-step record by which accounting data can be traced to their source. Questions as to the validity or accuracy of an accounting figure can be resolved by reviewing the sequence of events from which the figure resulted.
An “Accountant’s Opinion”, is a statement signed by an independent public accountant describing the scope of the examination of an organization’s books and records. Because financial reporting involves considerable discretion, the accountant’s opinion is an important assurance to t lender or investor. Depending on the scope of an audit and the auditor’s confidence in the veracity of the information, the opinion can be unqualified or, to some degree, qualified.
An “Auditor’s Report” is a public accountant’s declaration following the completion of an examination of corporate financial statements. This is another name for the accountant’s opinion referenced in the preceding paragraph.
Please keep in mind that this post is being provided for educational purposes only. It is not designed to be complete in all material respects. Thus, it should not be relied upon as legal or investment advice. If the reader has any questions concerning this post, you should consult with a qualified professional.
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