Financial Audit (Noun)
Meaning
An attestation that the client's financial statement is accurate.
Classification
Nouns denoting acts or actions.
Examples
- The accounting firm was hired to perform a financial audit to verify the accuracy of the company's financial statements.
- A financial audit is conducted by an independent auditor to provide reasonable assurance that the client's financial statement is presented fairly and in accordance with the applicable financial reporting framework.
- The purpose of a financial audit is to express an opinion on whether the client's financial statement is free from material misstatement.
- As part of the annual financial audit, the auditor reviews and tests the client's financial transactions to ensure the accuracy of the financial statements.
- The financial audit report issued by the auditor provides stakeholders with confidence that the client's financial statement is reliable and trustworthy.