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Publicly traded companies are used to undergoing financial audits — it’s a requirement for most of them - but privately held companies can generally keep their finances private. However, lenders and some insurance companies may require you to have an audit performed. And, in any event, an audit can help owners pinpoint problem areas and identify solutions that can improve their company’s prospects.
This framework provides a detailed approach to providing the information stakeholders may require, and can help you run your company better. Talk to an accounting professional to learn more.
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