audited statement

(redirected from Audited Statements)

Audited Statement

A financial statement that an auditor has prepared according to the Generally Accepted Auditing Principles (GAAP). Audited statements are subject to more rigorous standards than unaudited statements and, as such, are less prone to errors. An audited statement should not be confused with an auditor's opinion.

audited statement

A financial statement that is prepared according to generally accepted auditing standards. Compare unaudited statement.
References in periodicals archive ?
Optimal utilisation of funds is ensured through submission of utilization certificates, and audited statements of the expenditure incurred by the State Governments.
The Cabinet discussed a memorandum presented by the Finance Minister on the audited statements of the Future Generation Reserve account for the fiscal 2012, which put the final account for the reserve at $345,517,960.
485 billions under Tameer-i-Pakistan Programme to various departments without obtaining audited statements during 2002-2005.
Certified or audited statements reduce the perceived risk that a buyer associates with the accuracy of financial reporting since the CPA firm preparing the audited statement is certifying as to its accuracy, that financial records have been maintained in form and substance adequate for preparing audited statements in accordance with GAAP (Generally Accepted Accounting Principals) and it has conducted a certain level of due diligence.
The Board also approved the final audited statements for the CBO and Deposit Guarantee Fund as of December 31st 2010.
Central will be "pretty close" to what the final audited statements will show.
Reviewed statements are viewed as higher quality than compiled, and audited statements are viewed to be of higher quality still.
This year, the audited statements are going directly to General Synod," said Monica Patten, chair of the national finacial management and development committee, which oversees the financial operations of the church's national office in Toronto.
The practice is no less honored that we are not in public practice, for without the honor and integrity of members in business; the members in public practice would encounter more difficulties in issuing audited statements and preparing tax returns with confidence," May said regarding members in business.
The first is to request to see the audited statements at the band office.
Those who lend more than $5 million, for instance, must send audited statements to the department every year, but more than one-third of the schools required to do so hadn't.
All audited statements by any charity required to file reports with the attorney general must be made available to the general public within nine months of the fiscal year close.