audited statement

(redirected from Certified Financial Statement)

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 ?
Buyer must pre-qualify with bio and certified financial statement.
9) For this purpose, an asset's economic useful life is determined by reference to the taxpayer's treatment of the item as capital or expense in its "applicable financial statement" if it has one (such as an SEC filing or another certified financial statement produced for a substantive, non-tax purpose).
The group certified financial statement is expected to be available in March 2006.
Schwarzenegger recently signed into law and which goes into effect on January 1, 2005, requires nonprofits with revenue greater than $2 million to obtain certified financial statements.
The charity is an IRS Section 501(c)(3) corporation and has annual Certified Financial Statements from Grant Thornton CPA's filed with the New York State Department of State.
In addition, companies issuing certified financial statements must comply with GAAP as prescribed by the FASB.
On March 30, 2004, the Company announced that the delay in obtaining certified financial statements had resulted in non-compliance with the reporting requirements under certain of the Company's debt agreements.
These risks include, but are not limited to, the effect on the Company of ongoing internal reviews, external inquiries, and class action litigation pertaining to its reported financial results, the ability of the Company to obtain certified financial statements, to file required annual and quarterly reports, the ability of the Company to grow internally or by acquisition and to integrate acquired businesses, changing industry and competitive conditions, and other risks referred to in the Company's registration statements and periodic reports filed with the Securities & Exchange Commission.
The inability to file certified financial statements in a timely manner represents an event of default under DPL's $150 million term loan and $150 million revolving credit facilities.
Payments to corporations that are subject to SEC reporting requirements and thereby have independent, certified financial statements.
DPL said that the delay in obtaining certified financial statements constitutes an event of default under its term loan and revolving credit facilities.
ii) Where the certified financial statements set forth in (i) above are not available, then either reviewed or compiled statements from an independent accountant setting forth the aforementioned information shall be provided.

Full browser ?