% accuracy of periodic financial reports

Definition

Financial Reports should be prepared in a timely and accurate manner. Accuracy of financial reports can be measured against the draft financial statements prepared by the accounting department, divided by the absolute value of adjustments pushed through by the external auditors. Alternatively, the number of adjustments prepared by the external auditors can be used to establish accuracy.

Formula

Tags

accuracy, audit, report, department

Metadata

Category: Accounting ratios · Added: May 17, 2026