One of the critical components of financial statements is the audit report. While audited financial statements are not perfect they should be “good enough” that the informed investor, having read the financial statements, has enough data to make knowledgeable decisions based on the firm’s history and its management’s handling of finances.
Carolyn Ann Galantine, PhD, MA, CPA
Carolyn Galantine was granted a Ph.D. in Accounting by the University of Southern California after earning her Masters in Taxation at California State University, Fullerton. She is also a CPA who worked as an auditor with KPMG. She was on the faculty of the University of California for nine years before joining Pepperdine University in 2003, where she has taught auditing, ethics, taxation and financial accounting. She has published several refereed articles and proceedings on various accounting related topics.