Independent Accountants Certification

When reading an annual report, one should look at the independent accountant's statement (Table 3.13). The certificate will state that the auditing steps used in the verification of the figures meet the accounting world's approved standards of practice, and that the financial statements contained in the annual report were prepared in conformance with generally accepted accounting practices [5].

The two statements assure the reader that the figures in the annual report fairly represent the data they purport to describe. Occasionally, "subject to" or "except for" appear. This should alert the reader to dig further to find out what necessitated these qualifying statements. The answers are frequently found in the notes of the annual report that is one of the most important sections of the annual report.

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The 90-10 Financial Secret

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