Keep legal opinions and tax memoranda in a file separate from accounting and financial statements.
The independent external auditor is a licensed professional who works for a public accounting firm and performs an audit of the financial statements of a company, government, individual, or any other legal entity or organization.
The Commission has been repeatedly criticized by the Government Accountability Office for material weaknesses in its financial reporting and accounting processes, an extraordinary embarrassment for the agency responsible for evaluating the financial statements of all companies whose shares are sold to the public.
And big accounting firms will refuse to audit financial statements if the company or creditors fail to provide data.
Practice Tip: Always get audited financial statements, and from a major accounting firm.
FORBES: Broughton -- Rented Assets And Bogus Offshore Insurance Companies
Every new employee must attend a financial literacy course to understand how to interpret accounting statements and business decisions.
WSJ: Transparency at the Office: Psst...This Is What Your Co-Worker Is Paid
IPOs require detailed financial statements and listing companies must abide by US accounting standards before being allowed on Wall Street.
Through its cooperative data model, Sageworks collects financial statements for private companies from accounting firms, banks and credit unions, and aggregates the data at an approximate rate of 1, 000 statements a day.
Construction Sector DataThrough its cooperative data model, Sageworks collects financial statements for private companies from accounting firms, banks and credit unions, and aggregates the data at an approximate rate of 1, 000 statements a day.
FORBES: Private Builders' Sales Are Rising and So Are Their Costs
Sageworks collects financial statements for private companies from accounting firms, banks and credit unions through its cooperative data model, aggregating the data at an approximate rate of 1, 000 statements a day, and analyzing the performance.
FORBES: Private-company credit risk shows signs of improving
Sales trends for privately held companiesThrough its cooperative data model, Sageworks collects financial statements for private companies from accounting firms, banks and credit unions, and aggregates the data at an approximate rate of 1, 000 statements a day.
Profitability of privately held gas stationsThrough its cooperative data model, Sageworks collects financial statements for private companies from accounting firms, banks and credit unions, and aggregates the data at an approximate rate of 1, 000 statements a day.
FORBES: You think you hate high gas prices? Try selling the stuff.
Several audit firm professionals tried to convince the SEC and PCAOB staff that they were mistaken in the belief that broker-dealer auditors could not sign the broker-dealer audit opinion as well as help implement accounting software, prepare period-end journal entries and compile those same financial statements and regulatory reports that they would audit.
FORBES: Auditors All Fall Down; PFGBest and MF Global Frauds Reveal Weak Watchdogs
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