Auditing Evidence

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DEFINITION

The information collected for review of a company's financial transactions, internal control practices, and other factors necessary for the certification of financial statements by a certified public accountant. The amount and type of auditing evidence considered varies considerably based on the type of firm being audited as well as the required scope of the audit.

INVESTOPEDIA EXPLAINS

The goal of any audit is to determine whether a company's financial statements comply with the generally accepted accounting principles applicable to the entity's jurisdiction. Publicly traded companies are generally required to present fully audited financial statements to shareholders periodically.


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