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Thread: New to accounting - what does the phrase 'stats' mean in audit?

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    JasonBarber is offline New Member (0-29 posts) JasonBarber is on a distinguished road
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    Default New to accounting - what does the phrase 'stats' mean in audit?

    My senior was giving us an overview of our upcoming audit the other day and mentioned that we would "go in to do group in October or November, then come back in January or February to do the stats".

    What does this mean? I would have thought stats means statutory accounts, but would these not have to be prepared before the group work? I would have thought the "statutory accounts" feed into the group accounts. Can someone explain what he means to me?

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    walidzak is offline New Member (0-29 posts) walidzak is on a distinguished road
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    I would have thought stats means statutory accounts

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