What is the difference between certified and audited accounts?

A certified financial statement is a financial reporting document that has been audited and signed by an accountant. Overview · Compiled Statements · Certified Statements · The Content. An audit, or certified audit, is the highest level of financial statement service. While private companies aren't legally required to conduct audits, some lenders require audited financial statements in their loan agreements, or there may be other reasons why you may need to audit the financial statements.

The report provides an overview of the auditing process, detailing the scope of the work performed, the responsibilities of both management and the auditor, and any important findings or observations made during the audit.