All public companies must hire a certified public accounting firm to perform an independent audit of their financial statements. What exactly does the term audit mean?

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QUESTION:

All public companies must hire a certified public accounting firm to perform an “independent audit of their financial statements”. What exactly does the term audit mean?

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Book Name:

Fundamentals of Corporate Finance, 4th Edition

Author:

Robert Parrino, David S. Kidwell, Thomas Bates, Stuart L. Gillan

Textbook Solution:

Solution Available in MS-Word File.

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