Glossary
With over 200 terms in both English and French, our M&A Dictionary is designed to help you better understand the key words and concepts related to the sale oe purchase of a business in Canada.
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Audited Financial Statement
« Back to Glossary IndexCategory: Accounting and Finance
Audited financial statements undergo the highest level of scrutiny and assurance. They are examined by an independent certified public accountant (CPA) or a firm of CPAs who express an opinion on whether the financial statements present fairly, in all material respects, the financial position, results of operations, and cash flows of the company in accordance with generally accepted accounting principles (GAAP) or another applicable financial reporting framework. Audited financial statements involve extensive testing of transactions, verification of account balances, and assessment of internal controls. They are typically required by external stakeholders such as lenders, investors, regulatory bodies, and potential acquirers.
« Back to Glossary IndexSynonyms:
Certified Financial Statement, audit engagement
French Translation: