FINANCIAL STATEMENT AUDIT

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A financial statement audit is an independent appraisal of the financial statements prepared by the organization. The cardinal objective of a financial statement audit is to provide an independent assurance that the management has, in its financial  statements, presented a “true and fair” view of a company’s financial performance. It adds credibility to the reported financial position and performance of the business.

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A financial audit is responsible for providing assurance to the stake holders or the investors that the financial statements are accurate and comply with the accounting standards.