2018 – 01/05 – Income statement items warrant your auditor’s attention

2018 – 01/05 – Income statement items warrant your auditor’s attention

During your financial statement audit, we assess whether the amounts reported on your income statement capture financial performance during the reporting period. This requires us to focus on three main components: 1) revenue, 2) cost of goods sold, and 3) operating expenses. Each component requires a different audit approach, depending on the level of complexity, possible effects on balance sheet items and the potential for manipulation by dishonest employees. Contact us for more information on how we plan to test and verify these accounts this audit season.

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Our firm has been helping both individuals and businesses create bright futures for their finances since 1977.