The Center for Audit Quality has released its second video featuring hardboiled external auditor, Ledger Lines, to explain how auditing works.

The new video, “The Financial Statement Audit,” follows up on a video released last year, “The System of Investor Protection.” Both videos employ film noir-style narration and a comic book look.

Joining external auditor Ledger Lines are audit committee chair Indy Pendent, CFO Lotta Charts, internal auditor Ida Figures and regulator Johnny Law.

Ledger Lines explains the audit process, including the risk assessment, selection of the audit team, collection and documentation of evidence, and issuance of a written audit opinion as to whether the financial statements, as a whole, are free of serious or material misstatement.

“Since it was posted last October, over 3,300 individuals have viewed our first video on the ‘System of Investor Protection,’” said CAQ executive director Cindy Fornelli in a statement. “The second video employs the same dynamic, film-noir approach, and demystifies the financial statement audit in an entertaining and informative manner.”

To view the video, go to, a dedicated site that hosts a variety of resources for investors, including “The Guide to Public Company Auditing” and “Did You Know?” facts about the audit process.
Both videos are also available on social media channels YouTube, Facebook and Twitter.

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