Demystifying the audit

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02/20/2013 by PwC Investor Resource Institute
Demystifying the audit

At a glance

This Insights for the Investment Community explains what the auditor does, what the auditor does not do, and how to better understand the audit opinion.

Are a company's financial statements accurate? Do they conform to accounting standards? The audit, along with the resulting audit opinion, helps readers and users of financial statements answer those questions. But the audit is not a “gold seal” guaranteeing that the financial statements are free from all errors. This Insights for the Investment Community explains what the auditor does, what the auditor does not do, and how to better understand the audit opinion.

PwC's Investor Resource Institute seeks to add value to investors' decision making processes by sharing PwC’s insights and educational materials regarding markets, industries and corporate governance, thereby strengthening their understanding of the information available to them.