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Accounting audits can be described as a review of a company's financial records under procedures set forth by the applicable national accounting society such as, for American companies, the American Institute of Certified Public Accountants (AICPA). One refers to the standards against which a company's financial records are tested as Generally Accepted Accounting Principles (GAAP). Other accounting services related to the audit field include review and evaluation of internal accounting controls, due diligence engagements, attestation reports, and management letters. |
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