The "financial frauds", exposed recently in some big companies in the world, shows some systematic drawbacks exist in the current audit system of licensed accountants' statements.

从世界各大公司最近暴露出的“财务欺诈”，说明了现行的注册会计师报表审计制度存在不可克服的系统性缺陷。

youdao

Risks sof material misstatement are the likelihood of risks causing material misstatement in the financial statements before audit.

重大错报风险是指财务报表在审计前存在重大错报的可能性。

youdao

Responsible for the monthly, quarterly and annual financial statements of the preparation of its subsidiaries and the accounting statements of the audit and analysis of the merger.

负责月度、季度、年度财务报表的编制及其子公司会计报表的审核合并及分析。

youdao

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

The independent external auditor is a licensed professional who works for a public accounting firm and performs an audit of the financial statements of a company, government, individual, or any other legal entity or organization.

FORBES: Crisis? What Crisis? Don't Blame The Accounting

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