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LSDefine

Simple English definitions for legal terms

audit report

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A quick definition of audit report:

An audit report is a written statement from an outside auditor that accompanies a company's financial statement. The report expresses the auditor's opinion on the accuracy of the company's financial condition as presented in the financial statement. It helps investors and stakeholders understand the financial health of the company and make informed decisions.

A more thorough explanation:

An audit report is a written statement prepared by an external auditor that accompanies a company's financial statement. The report expresses the auditor's opinion on the accuracy of the company's financial condition as presented in the financial statement.

For example, if a company hires an external auditor to review its financial statements, the auditor will prepare an audit report. The report will state whether the financial statements are accurate and comply with accounting standards. The report will also highlight any issues or concerns that the auditor identified during the audit.

The purpose of an audit report is to provide assurance to stakeholders, such as investors and creditors, that the financial statements are reliable and can be used to make informed decisions. It is an important tool for maintaining transparency and accountability in financial reporting.

audit privilege | audit response

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triplethread
11:12
is it bad i lied about getting into case western bc my parents are bugging me about my first a
@BookLover125: they are so impressed with your application they are renaming the library after you before admitting you
Do you know not everyone says they were ED?
11:12
No they shouldn’t be bugging you this is stressful enough without them adding More. Do what u gotta do
11:13
Got jokes I see
triplethread
11:13
its sooo stressful and im not even done applying
Just apply and get the A lol
triplethread
11:13
got like 3 more apps
there should be a law school draft akin to the NFL Draft where law schools can recruit us
or a MaxPreps esque high light video where Deans can rank us
1a2b3c4d26z
11:15
In this analogy is the LSAT the NFL combine
JumpySubsequentDolphin
11:16
I told my family I won’t get any decisions until 2025 so they wouldn’t bombard me hahah
no i think there should be a Law School combine with all new drills except there is still the 40 yard dash
and a sub 4.5 gets you into any t14
LSAT can be one of the drills
letsseehowitgoesnow
11:17
so washu only called one person
So all the D1 athletes will get into a T-14. What else is new?
@TheAdoptedOne: that is called "Dean Poker Night" lol
@ClockworkBlue: I feel like most people could train for the 40 for the same amount of time as they do the LSAT and get close to sub 5 which would be equivalent to a 167+
this is like the schizophrenic posts JJK tik tok be putting out
powerscaling Law School deans up next
11:19
Election Day election day
Write in Dean Z vote
11:20
Saw a guy that wrote in Biden and he said no retirement for you buddy
1a2b3c4d26z
11:20
@ClockworkBlue: god I hope that's true
if the country was run the same as Mich Law it would be a better place
Imagine if election night was run by an adcom? Like, "yep, we could get the results Friday, or June 2025."
imagine if it was like Berkley applications
1a2b3c4d26z
11:22
Election status: Complete
1a2b3c4d26z
11:22
For months
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