Who Can Prepare Audited Financial Statements?
What is the difference between an accountant and a Certified Public Accountant (CPA)? An accountant usually majors in accounting in college. In order to become a Certified Public Accountant, the accountant needs to work for an accounting firm for a few years, acquire five hundred hours of auditing time, and pass a test from the American Institute of Certified Public Accountants as well as from their state. A CPA also must take 120 hours of continuing education courses every three years to maintain their license. Only a Certified Public Accountant (CPA) can prepare audited financial statements on behalf of a business or non-profit organization. Audited financial statements are used to provide financial credibility, accountability and accuracy for a business. These audited financial statements help provide a basis for various business decisions to be made within and regarding a company. The purpose of audited financial statements is to provide interested parties The CPA will certify with
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