Outside users of financial info, such as capital providers, taxation officials and business lenders, want summarised financial info should be checked before the business makes it available.
For a sole trader, this checking process is done by the owner or an external accountant or internal employee.
Preparing financial info for external users takes time, experience and knowledge. For larger private companies and all public companies, involves a detailed checking process by specially trained independent accountants known as editors.
This area is mainly targeted at those outside a business.
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