In applying for a loan for your business, lenders, and creditors will ask for your financial documents, such as a profit and loss statement, cash flow statement, balance sheet, and so on. These help lenders assess your creditworthiness and your ability to pay back a loan.
Most lenders in Nashville require financial statements to be audited by a CPA firm or an independent CPA. An audited financial statement provides creditors with the assurance that your reports are a fair and accurate representation of your business’ financial performance and position.
Other parties that will want to see your audited financial statements include:
- The Securities and Exchange Commission, if you’re a publicly owned company
- Suppliers who are looking into extending trade credit to your company
- Potential investors who want to assess the viability of your business
- Shareholders and existing investors who want to get fair, credible, and accurate information about the business’ financial health
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