Auditing Forecasting GAAP Risk Analysis 
CFO Share
MARCH 14, 2022
What is the difference between a quality of earnings report and an audit? Audited financial statements focus on compliance with GAAP accounting standards, whereas Quality of Earnings reports focus on the company’s earnings history and potential. Sales concentrations and/or backlog risk. Transactions with related parties.
Cube Software
MAY 11, 2023
Think of pro forma statements as a monetary crystal ball, a guiding financial forecast. The Securities and Exchange Commission (SEC) requires that discrepancies between pro forma and GAAP-compliant financial reports be explained when released to the public. Another, critical use case of pro forma financial statements is risk analysis.
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