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 ?
FUJIFILM DEAL TERMINATED: On Sunday, Xerox announced that it notified Fujifilm that the agreement to combine Xerox with Fuji Xerox is being terminated due to the failure by Fujifilm to deliver audited financials of Fuji Xerox by April 15, material deviations from unaudited statements when delivered and other circumstances limiting the ability of the company, Fujifilm and Fuji Xerox to consummate a transaction.
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.
Sources: Arkansas Press Association and unaudited Statements of
The unaudited statements made official what the entire industry has known for weeks: a GAAP-required $1.2 billion OTTI ate up approximately $700 million in retained earnings, resulting in a negative $463 million line item.
* 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.g., compilation or review statements.
California is an exception, and the subsidiary franchisor's unaudited statements are included in the offering circular.