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Discussion: Uses of the Notes to the Financial Statements and the Auditor’s Report

The auditor’s report is a vital component in the reporting of financial information to third-party users. For instance, businesses can utilize an auditor’s report to attract investors, obtain loans, or improve public appearance.

To complete this Discussion:

Think about the following:

1. The purpose and functions of the notes to the financial statements
2. The auditor’s report, which are both in the annual report

What significant information is included in the auditor’s report? What crucial information to completely understanding the financial statements could be included in the notes to the financial statements?

BY DAY 7 OF WEEK 5

Post a response that expresses your thoughts on:

1. The uses of the notes to the financial statements
2. The significant information found in the auditor’s report

The length of your response(s) must be a minimum of 150 words.

BY DAY 5 OF WEEK 6

Post one response to a classmate’s post or to an Instructor follow-up post. As you write your response, consider doing the following:

• Ask a probing question based on something your classmate said.
• Share an insight from having read the posting.
• Offer and support an opinion.
• Validate an idea with your own experience.
• Make a suggestion.
• Expand on your classmate’s posting.

Your response post must be a minimum of 150 words.

Requirements: 150 words

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