comparison between year end audit and due diligence audit?

Question

i need more abt year end audit including articles urgently...pls help me....

Answer 1

It would help to know whether you're with a U.S. based public or private company.....

Year-end audits for public companies typically involve a third-party accounting firm (Ernst & Young, Deloitte & Touche, etc.) or CPA who reviews a sample of various documents. these items can include, but are not limited to:

-pay records
-tax records
-sales orders
-shipment records
-manufacturing work orders
-balance sheets
-cash flow statements
-raw material costs
-finished goods inventory records
-stock transactions by insiders

etc., etc., etc. The purpose is to certify that the company's business practices and self-reported financial results are in line with generally accepted accounting practices (GAAP) and are reported accurately. Any reputable public accounting firm can explain to you what might be involved in your case.