ESSENCE AND FEATURES OF THE AUDIT OF FINANCIAL STATEMENTS
Directions Economics Chechen State University, GroznyAlmost all companies annually audit their financial statements, such as the statement of financial results, balance sheet and cash flow statement. Creditors often require the results of an external audit every year as part of their debt obligations. For some companies, an audit is a legal requirement because of the overwhelming incentive to deliberately misrepresent financial information in an attempt to commit fraud.