The case for audited financials

Hutto, Gary W.
May 1997
Mortgage Banking;May97, Vol. 57 Issue 8, p87
Details a case which brings to light the confusion over which types of audited financial statements are needed for underwriting a self-employed borrower's mortgage loan. Accounting profession's failure to educate mortgage bankers about financial statements; Attestation engagements; Statement of financial position or balance sheet; Income statement; Statement of cash flows; Statement of changes in retained earnings.


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