Financial Statement Auditing

Financial statement auditing is the process wherein an independent professional examines a company's financial reports to ensure their accuracy and compliance with accounting standards. Auditors evaluate records, internal controls, and financial statements to verify that they present a true and fair view of the company's financial position. This helps stakeholders, like investors and creditors, make informed decisions. An audit adds credibility to the financial statements, providing assurance that the numbers reported are reliable and free from significant errors or fraud.