A part of the annual financial statements required by the Companies Act where the auditors state that they have examined the financials and that in their opinion they represent a fair picture of the company’s financial activities over the period in question. Occasionally, the auditors’ report is “qualified” or includes an “emphasis of matter” because they did not approve some aspect of the accounts or accounting controls. You should always glance at this report to see if the statements have been “qualified” and why.

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