- AnchelLv 71 十年前最愛解答
Audited F/S represents audited financial statement. Financial statement includes 1) Income Statement 2) Balance Sheet (includes notes to the financial statements) 3) Cash Flow Statement 4) Statement of Changes in Equity. Many small companies do not prepare (3) and (4).
Audited F/S means that the financial statements have been audited by external auditor(s) (e.g.: KPMG, Deloitte etc.). Their job is to determine the truth and fairness of financial statements. The output of external auditor is audit report, stating the auditors responsibilities, management responsibility, opinion of auditor etc.