As part of the financial accountability that most entities provide to investors, board members, and constituents, the use of audited financial statements are common. Essentially, audited financial statements are simply the accounting documents that are prepared by a Certified Public Accountant on behalf of a business or non-profit organization. Here are some basic facts about audited financial statements, and how they are used. The source documents for the audited financial statements are usually provided by the organization wishing to have an auditor prepare a financial statement. This will often include a wide range of financial documents, such as Accounts Payable and Receivable information, expense reports, budgets, and any other type of financial record that the organization has in its possession. The purpose of the accountant is to take these various financial statements, evaluate and cross-reference them, and provide a professionally prepared audited financial statement that the organization can then present […]