Get to know about Unaudited financial statements.

1
Compilation of unaudited Financial Statements

• Difference B/w Audited Unaudited Financial
  Statements

2
Contents

• What is Audited Financial statements?
• What is Unaudited Financial statements?
• Why Audited Financial Statements?
• The Audit Process
• Summary

3
What is Audited Financial statements?

• A financial statements or report is called
  audited, when it is prepared in accord with
  generally accepted accounting principles
  guidelines. As we know in Singapore all companies
  have to provide their financial reports in which
  cash flow statements, balance sheet and income
  statements are included.
• There is a guarantee and accuracy in the audited
  financial statements thats why it is also known
  as certified financial statements.

4
What is Unaudited Financial statements?

• Unaudited financial statements or reports are
  just opposite from the audited. In this type of
  statement's there is lack of certification and
  accuracy, this is totally an independent
  verification and audit process.
• The financial statements of any company remains
  unaudited until it is checked and verified
  through an external certified auditor.
• Unaudited statements are also referred to as
  Compiled financial statements.

5
Why Audited Financial Statements?

• There are various reasons for having an audited
  financial statements for any company in
  Singapore.
• According to ACRA, for transparency it is
  important for any business entity to submit their
  financial reports annually that offers stocks and
  bonds to the public.
• Also, there are many other compelling reasons. An
  audited financial report
• Ensures accountability
• Provide reliability
• Boost company credit rating
• Growth of business value.

6
The Audit Process

• The auditing process of financial statements for
  any business or company requires three
  fundamental things
• A team of Expert and professional auditors
• Split up work
• Timing
• The Audit process work on the following basis
• Observation
• Inventory counting
• Shipping procedures

7
Summary

• I hope you got your answer and clearly understand
  the basic difference b/w audited and unaudited
  financial statements. If you have any question or
  want to know more about the compilation of
  unaudited financial statements,
• Visit our Website
• https//www.singaporeaccountingservice.com/service
  s/compilation-of-financial-statements-unaudited-fi
  nancial-statements/
• Or,
• Say hello by dialling these numbers (65) 6667
  3158
• You can also leave a message to our WhatsApp
  number (65) 9729 0371.
• (Well respond within hours of your request.)