What's independent accountants?

Independent CPA Auditors is that judges in financial reporting arena. CPA will make an audit of the accounting systems and methods for activity and provides a report that is associated with the annual accounts of the company. Public undertakings are obliged to have their annual financial statements audited by an independent CPA firms, and private companies have audits so well done, because they know that an inspection report credibility to its financial statements will bring.

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An auditor judges or business accounting methods in accordance with the generally accepted accounting principles (GAAP). In General, and the economic report is a reliable documents. But sometimes an auditor a yellow or red flag will wave. When the company's ability to continue normal operation is uncertain because of the so-called financial basis, which could mean a low balance, accounts receivable past due obligations or important cases which it did not have money to cover certain indicators of potential problems.

An auditor should exercise professional skepticism, which means that the auditor must jaktkniv the accounting methods and practices for client reporting to ensure that its financial statements in accordance with accounting standards and not misleading in short, that the financial statement is presented correctly. The words "fairly presented" is the precise words used in the audit report.

A good auditor technical knowledge is required, but must also know how hard on the accounting methods used by the client. It is his task to be agents of shareholders and other users of its financial statements. It is up to an accountant to strictly maintain the generally accepted accounting principles, and not the image of irregularities.

There are a number of well-known companies who have recently engaged in accounting fraud and deception are not detected by CPA Auditors. Enron is one of these companies. In this case was convicted review firm, Arthur Andersen of obstruction of Justice because it destroyed the control information.

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