From the course: The Future of Audit
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Importance of a certified audit
- Companies don't just get audits done for fun. They do it because there are specific values that having a certified audit with an unqualified opinion, that means a clean audit, can bring to a company. With an unqualified audit opinion, the company can use that to get a loan at the bank or prepare a private company to go public, get government contracts, or use it in a tax audit defense. An unqualified audit opinion means, according to the AICPA definition, that a company's financial statements present fairly. And no matter what technologies come along in the future of audit, that definition is likely to remain the same. And the importance of having a clean audit, an independently certified, unqualified audit opinion, is likely to remain high.
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