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What are the main steps to verify whether financial statements are true and fair?

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Question added by Deleted user
Date Posted: 2017/07/09
Khaliq Raza MBA   MS   CFE  AFA
by Khaliq Raza MBA MS CFE AFA , Senior Accountant , ARCO TURNKEY SOLUTIONS CONTRACTING LLC

We Can randomlly pick the Values of Financial statements and demand of their supporting materials. We can reconcile many things thats mentioned in the financials like Cash, Bank, A/R, A/P, Inventory, Retained earning. If the supporting material (Notes) justify these vales then ok, otherwise they did the windoe dressing for gaining their financial benefits. Thanks

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