More fundamentally, the financial statements of a company that has engaged in backdating may require restatement.
Other than our course, they would have never looked at the financial statements of a single household.
You see that income tax expense on the financial statements is not what is on the returns.
But at minimum RateFinancials' work warns investors to look closely at the financial statements of the suspect companies.
The resulting lack of audit work can result in an auditor disclaiming an opinion on the financial statements.
FORBES: Pension Red Alert: 70% Of Pensions Are Never Audited
Accordingly the financial statements are not designed for those who are not informed about such matters (emphasis added).
FORBES: Red Flags Abound at $1.6 Billion City of Tampa Firefighters and Police Pension
That does not mean that the financial statements are, in fact, materially misstated.
The external auditor uses inquiry and actual testing of transactions to develop a formal opinion on the financial statements.
Further, analysts seem clueless as to exactly what the financial statements are saying.
FORBES: If Hewlett-Packard Looks Bad, AutoZone Looks A Lot Worse
Most importantly, investors should take the time to go through the financial statements.
They had to be safe custodians of their assets, for which activity they had to account annually through the financial statements.
Deadspin.com got its hands on the financial statements for five teams and published those numbers on its web site today.
But, according to authorities, the financial statements provided to investors were fictitious.
FORBES: Jailed Ponzi Schemer: Set Me Free And I'll Show You My $10 Million Diamond Stash
In other words, investors were relying on an opinion on the financial statements that, when issued, was not supported by sufficient appropriate evidence.
The full earnings for the third quarter will be disclosed following the Board of Directors' approval of the financial statements and quarterly reports.
ENGADGET: Samsung expects around $7.28 billion in operating profits for Q3, setting another record
Reconciliations from the non-GAAP financial measures to the most directly comparable GAAP financial measures are provided below following Selected Data and the financial statements.
ENGADGET: T-Mobile lost more customers in Q4, will launch LTE in 2013 with AWS spectrum from AT&T
It would be easier if auditors, as an industry, agreed it was their responsibility to detect fraud and material misstatements of the financial statements.
As of fiscal years ending after December 31, 2008 the financial statements of non-public broker-dealers must be certified by a PCAOB-registered public accounting firm.
FORBES: Auditors All Fall Down; PFGBest and MF Global Frauds Reveal Weak Watchdogs
Sure a partnership will have a material impact on the stock but the question is will it have a material impact on the financial statements.
FORBES: Morgan Stanley's Latest Alibaba Estimates Suggest It's Worth $66 - 128 Billion
The 1, 000 pages of documents will include the testimony of 26 people, the emails and the financial statements from which the USADA built its case.
FORBES: Despite The Fresh Evidence Of Doping, Lance Armstrong Will Ride On With The Esteem Of Many
As part of the restatement, the company will adjust the financial statements for errors identified during prior periods, recording the adjustments in the appropriate historical period.
FORBES: KIT Digital Implodes; Finds Accounting Errors, Restating Results; Former CEO Bids
Under Auditing Standard 5, passed in mid-2007, the audit of internal control over financial reporting is now integrated with the audit of the financial statements.
FORBES: The State of Sarbanes-Oxley Compliance According To Protiviti
But within the company description and history, you can often discover all kinds of great tidbits of information that might not be included in the financial statements itself.
During the last four years, Deloitte has issued non-qualified audit opinions on the financial statements, in spite of ongoing material weaknesses in internal controls over their financial reporting.
In this, our second annual survey of corporate earnings quality, we tear apart the financial statements of Wall Street's favorite growth stocks and give a grade to each.
In fact, audit firms would be subject to conflicts of interest in accepting such an assignment since they have already opined as to the accuracy of the financial statements.
FORBES: Murders and Pensions: The Need for Forensic Investigations (March 28, 2006 )
Think about all the PR that Yahoo releases on its Investor Relations page and now think how much of that actually mattered enough to be in the financial statements.
FORBES: Morgan Stanley's Latest Alibaba Estimates Suggest It's Worth $66 - 128 Billion
The company said Friday it would restate its financials for every quarter since 2007 due to "errors identified in the financial statements, " which include several overstatements of pre-tax income.
Auditors, in my opinion should be banned from taking part in corporate investigations that may involve senior management, have a material impact on the financial statements or involve illegal acts.
FORBES: Consulting By Auditors: NYU Stern Ross Roundtable Explores Post-Enron Reemergence
应用推荐