Does your company need to present your stakeholders with an accurate report on your financial performance? The best way to prove your company’s financial credibility and accountability is to present your stakeholders with an audited financial statement.
There are three easy steps to obtain an audited financial statement for your company. First, contact an independent Certified Pubic Accountant (CPA). The CPA will then advise you on how to prepare for an orderly and efficient audit. Second, collect the information requested by the CPA and submit it to them. The CPA will examine documents which support figures within your company’s financial statements, assess the accounting principles used, and evaluate the financial statement presentation. From this information the CPA will create an audited financial statement for your company. The audit will give your stakeholders an unbiased opinion, either qualified or unqualified, regarding the nature of the financial statements and practices within your company. Lastly, review your audited financial statements, contact your CPA if you have any questions regarding the audit, and then submit the audited financial statements to your stakeholders.
An unqualified opinion indicates that the audit is found to be accurate, complete and fairly presented to meet the requirements of the US GAAP (Generally Accepted Accounting Principles). The audit provides the CPA a reasonable basis for their opinion that the financial statements are free of material misstatements or false/missing information. A qualified opinion indicates that the CPA is not in agreement with aspects of the financial statements and/or methods used to prepare their financial documents. A qualified opinion indicates that the CPA is not confident that the financial statements are correct or accurate. If no opinion is given, this usually indicates that a company needs to improve their accounting practices so they can meet the requirements of the US GAAP (Generally Accepted Accounting Principles) before an audit can be performed. (Neil Rischall)