What is the principal use and significance of an audit report to a large corporation with securities

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What is the principal use and significance of an audit report to a large corporation with securities listed on a stock exchange? To a small family-owned enterprise? Audit Report
The audit report is issued by a certified public accountant who is appointed by the shareholders to provide assurance upon the truth and fairness of the financial statements prepared by the managers of the company. Audit report contains the...
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...
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