Question

explain the importance of audited revenues to four types of users

Answer 1

Investors use audited revenues, report and financial statements to assess the financial performance of entity, and financial position for their investment opportunity.

Government agency use audited revenues, reports and financial statements to get information regarding the completeness and accuracy of tax declaration.

Shareholders use audited revenues, report and financial statements to judge the integrity of management and transparency of financial statements.

Board of directors use audited revenues, report and financial statements to set future goals, plans and budget as well as to keep on current performance.