What's the difference between financial report and audit report?

A financial report is a written document reflecting the financial position and operating results of an enterprise, including a balance sheet, an income statement, a cash flow statement, a statement of changes in owners' equity (which is required to be disclosed in the annual report under the new accounting standards), a schedule, notes to accounting statements and a financial statement.

General international or regional accounting standards have special independent financial reporting standards.

"Financial report" is a common term in the world, but the term "financial accounting report" is used in the current relevant laws and administrative regulations in China.

In order to maintain the consistency of laws and regulations, the basic standards still do not use the word "financial accounting report", but at the same time introduce the word "financial report", and point out that "financial accounting report" is also called "financial report", thus solving the problem of national conditions in line with international standards.

Audit report refers to a written document in which a certified public accountant gives an audit opinion on the financial statements of the audited entity on the basis of the implementation of audit work according to the auditing standards of China (or government auditors according to national auditing regulations).