What does LFAR mean? What is the full form of LFAR?
The Full Form of LFAR is Long Form Audit Report.
A long-form report is an expanded form of audit report that is issued by an external auditor. The content of this report includes the following:
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The audit scope
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The auditors’ opinion regarding the financial statements of the client
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The key risks identified and how the auditors responded to those risks
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The percentage change in accounts
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An evaluation of the financial status of the client
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Recommendations for improving the financial systems of the client
LFAR
means
Long Form Audit Report
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