unaudited statement

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Unaudited Statement

A financial statement that an auditor has prepared, but not according to the Generally Accepted Auditing Standards (GAAS). Auditors preparing unaudited statements are required to issue a disclaimer stating that they are not rendering opinions and that the statement does not abide by the GAAS. Unaudited statements are subject to less rigorous standards than audited statements and, as such, are more prone to errors.

unaudited statement

A financial statement prepared by an auditor but not in accordance with generally accepted auditing standards. Unaudited statements are prepared to less rigorous standards than audited statements. Compare audited statement.
References in periodicals archive ?
The unaudited statements of the first quarter shows fall in the transport and liability insurance, motor comprehensive insurance and life group insurance by 33 per cent, 31 per cent, 11 per cent, 9 per cent and 3 per cent, respectively.
The unaudited statements show the government is beating its deficit targets through sound financial management.
Unaudited statements for the first quarter of 2016 indicate that the company has achieved a combined ratio below 100 per cent.
The target company is also required to provide its unaudited statements for the most recent quarter.
The unaudited statements made official what the entire industry has known for weeks: a GAAP-required $1.
Requiring schools to provide audited financial statements rather than unaudited statements.
AT LEAST ONE COMPANY IS offering unaudited statements in different countries' accounting standards, taking advantage of the Internet's international nature.
To meet the two-year deadline for the annual accountability report, the committee suggested developing a plan that includes "issuing unaudited statements for fiscal-year 1992" and improving other internal controls.
Accordingly, there is intense competition between the CPA and the unlicensed accountant over the preparation of unaudited statements, e.
As of December 31, 2011, the Company's audited Consolidated Balance Sheet reported total stockholders' equity of approximately $9,078,000, an increase of approximately $2,005,000 as compared to the Company's previously announced unaudited statements.
If financial accounts for the year 2012-13 are not audited then the bidder should provide balance sheet for the years 2009-10 also, along with unaudited statements for 2012-13.
However, only 11% require prospective borrowers to submit annual audited financial statements, with 54% of the bankers reporting that 90% or more of their customers submit unaudited statements.