Audit of Financial Statements definition

Audit of Financial Statements means the examination by the Comptroller and any Federal or State auditing authority of the financial statements of the Contractor resulting in the publication of an independent opinion on whether or not those financial statements are relevant, accurate, complete, and fairly presented.
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Examples of Audit of Financial Statements in a sentence

  • Report on Compliance and on Internal Control over Financial Reporting based on an Audit of Financial Statements performed in Accordance with Government Auditing Standards indicating that a review of internal controls was performed and identifying material weaknesses and/or reportable conditions, if any.

  • Audit of Financial Statements As discussed in Section 3.07, “Records and Audits”, the Contractor shall provide an annual audited financial statement to the Department and SSAC within 120 calendar days after the end of the calendar year and the system of accounting shall be in accordance with generally accepted accounting principles and practices, consistently applied throughout.

  • Based on an Audit of Financial Statements Performed in Accordance With Government Auditing Standards (GAGAS report), on the Contractor's consideration of internal control over financial reporting and tests of compliance made as part of its audit of the financial statements.

  • Draft and final reports on the fair presentation of the financial statements in conformity with generally accepted accounting principles; A report, Report on Internal Control Over Financial Reporting and Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance With Government Auditing Standards (GAGAS Report), on Contractor's consideration of internal control over financial reporting and tests of compliance made as part of its audit of the financial statements.

  • Of Particular relevance is ISA 240 (The Auditor’s responsibility to Consider Fraud and Error in an Audit of Financial Statements), and ISA 800 (“Special Considerations audits of single financial statements and specific elements, accounts or items of a financial statement”).

  • Restricted Stock: 6,600 shares (.20 x 33,000) of previously granted stock and units will be vested upon the completion 2012 Audit of Financial Statements, during the first quarter of 2013.

  • The Consultant’s failure to cooperate in any Audit of Financial Statements shall be an Event of Default.

  • Independent Auditor’s Report on Internal Control over Financial Reporting and on Compliance and other matters based on an Audit of Financial Statements performed in accordance with Government Auditing Standards.

  • Report on Compliance and Internal Control over Financial Reporting Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards (GAS), and the Provider Agency Audit Guide, 1999 revision issued by WI Department of Corrections and Workforce Development or Department of Health Service Audit guide (DHSAG) latest revision issued by Wisconsin Departments of Health Services.

  • Audit of Financial Statements..............................................

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