Privately Held Company
Expert Auditing advice
Audit standards for private companies are less stringent than those for publicly listed firms because they face fewer disclosure requirements. Both private and public companies are subject to generally accepted accounting principles (GAAP), although for different reasons. Private companies may be subject to GAAP to satisfy lenders, certain shareholders, insurance companies and banks even though these are still required for business purposes. Private companies are not required to publicly disclose their audited financial statements.
BDO's auditing teams work across various industries and company sizes to help you with your financial reporting requirements.
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