Financial Audit

The financial statements of the enterprises should be audited in the light of predetermined criteria and generally accepted accounting principles whether they reflect the situation adequately and provide an appropriate appearance to the facts. The financial statements of the companies should be prepared in a way that shows mathematically correct results in a certain period. However, while preparing these financial statements, it is necessary to investigate whether the records entered reflect the truth. Every item, from inventories, costs, expenses to cash in the cash register, needs to be examined.
Often times, inaccurate records are discarded to enhance the year-end balance sheets of companies. These records prevent managers from seeing the truth. An audit report is prepared by investigating whether the events subject to transactions are real, whether all the transactions that need to be recorded are recorded correctly, whether they are recorded in the correct accounts, whether the assets are available, whether the equity is preserved, whether the liabilities are real and whether they are recorded in the correct accounts. As a result of the financial audit, the real performance of the company is measured and the necessary measures are taken beforehand to prevent companies from going into crisis.

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