What is an Audit?

In this explainer video, IFAC Board Member Lisa Padmore shares how audits are used to build trust between investors and companies.

[@luziasatchitomeno7735]

Clear Understandable expectations, thank you.

[@aviatorchris5202]

You have just aided my learning in this topic..... i appreciate

[@Tpantaleoni]

🎯 Key points for quick navigation: 00:00 *📊 Understanding Financial Statements and Audits* - Understanding financial statements and disclosures is crucial for making investment decisions. - Financial audits validate the accuracy and fairness of financial statements. - Auditors play a critical role in providing independent assurance on financial statements. 01:28 *🔍 Role and Responsibilities of Auditors* - Auditors examine financial statements to detect material misstatements. - They use sampling, analytics, and adhere to international auditing standards (ISAs). - Auditors must maintain independence and follow ethical codes. 02:57 *🛡️ Importance of Audits and Financial Statements* - Audits ensure reliability of financial reporting and validate internal controls. - They build trust between companies seeking capital and investors. - Independent audits are crucial for maintaining market trust and economic stability. Made with HARPA AI

[@AdeAde0224]

Nice simple explanation

[@Meow-vy4el]

thank you!!

[@OneChurch-cg6xw]

"We cannot take trust for granted" 👍