| Auditor's
Report |
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Recorded in the annual report, it tests to see that corporation's
financial statements comply with GAAP. This sometimes referred to
as the "clean opinion".
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Most
auditor's reports consist of 3 paragraphs. The first tells the responsibilities
of the auditor and directors. The second is the scope, that GAAP was
used. And the third paragraph gives the auditor's opinion. |
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Dictionary
