Define: Audited Balance Sheet

How is Audited Balance Sheet defined in a legal contract?

• Audited Balance Sheet means a balance sheet that's been officially verified, primarily made for the [organization]'s fiscal year. In situations where audited consolidated balance sheet providing a state of affairs overview for the [organization] and its subsidiaries has been prepared for the same financial year, it refers to this consolidated balance sheet. All mentions of reserves are assumed to refer to consolidated reserves. Seen in 88 SEC Filings
• Audited Balance Sheet means the most recent verified balance sheet of the [organization] that has been prepared for specific [clause]. If an audited consolidated balance sheet for the [organization] and its subsidiaries (with certain [number] of exceptions) has been made for that [clause], the term refers to this audited consolidated balance sheet. Seen in 44 SEC Filings
• Audited Balance Sheet means the audited consolidated balance sheets of an [organization] pertaining to a specific year. Seen in 20 SEC Filings.
• Audited Balance Sheet means an audited balance sheet of the [organization] unless at the relevant date a subsidiary of the [organization] has created a balance sheet which has been audited. In this case, ""audited balance sheet"" is a consolidation of the latest audited balance sheets of the [organization] and such subsidiary. Mentions of reserves and revenue account are deemed to refer to reserves and revenue account shown in such consolidation. The reduction in respect of goodwill Is presumed to not contains goodwill arising only on such consolidation. Seen in 9 SEC Filings.
• Audited Balance Sheet means the audited consolidated balance sheet of the [organization] and its subsidiaries as of a specific month and year. Seen in 8 SEC Filings.
• Audited Balance Sheet means the consolidated balance sheet of the [organization] that is dated as of a specific year, included in the [organization]’s Annual Report on [clause] for the year that ended in the same year, which was filed with the [organization] prior to a specific date. Seen in 7 SEC Filings.

Note: The Genie AI Legal Assistant pulled this data out of the SEC EDGAR Database of 500,000 records from the past 22 years of filings. We regularly update this page as new filings and definitions come in.

Search EDGAR for 'Definitions of audited balance sheet' yourself to verify these results. We are always keen to point people to source documents.

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Which definition should you use?

🤔 Our AI Legal Assistant has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.

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Genie Definition 1

Audited Balance Sheet means the verified financial statement of an [organization] or its consolidated subsidiaries, prepared for a specific fiscal year.

Relevant Contract Types

• Asset Purchase Agreements
• Purchase Agreements
• Equity Transfer Agreements
• Merger Agreements
• Investment Agreements

Relevant Circumstances

• During due diligence for mergers and acquisitions.
• Establishing partnerships or joint ventures.
• Assessing the health of a business for investment prospects.
• Navigating bankruptcy or insolvency proceedings.
• As part of annual reporting for public companies.

Relevant Sectors

• Financial Services
• Real Estate
• Technology
• Manufacturing
• Healthcare

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Genie Definition 2

Audited Balance Sheet means the latest verified balance sheet of an [organization] prepared according to [governing law], inclusive of any subsidiary's audited balance sheets.

Relevant Contract Types

• Loan Agreements
• Credit Agreements
• Shareholders Agreements
• Franchise Agreements
• Lease Agreements

Relevant Circumstances

• Granting or obtaining loan or credit.
• Selling or buying shares in a company.
• Launching a franchise.
• Leasing real estate properties for commercial uses.
• Establishing and managing relations between shareholders.

Relevant Sectors

• Banking and Finance
• Retail
• Restaurants and Hospitality
• Energy and Resources
• Transportation

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