Final answer:
Audits, such as the one performed by Richard Fidler, CPA, ensure financial statements are compliant with accounting standards like GAAP. A comptroller, who is the chief accounting officer of the state, has similar responsibilities in maintaining state financial records and preparing annual financial statements.
Step-by-step explanation:
Richard Fidler, CPA, is auditing the books of a business. Audits are performed to ensure that financial statements have been prepared according to generally accepted accounting principles (GAAP) or other relevant accounting standards. The role of a comptroller of public accounts is somewhat similar in maintaining the integrity of financial reporting. The comptroller, as a chief accounting officer of the state, is responsible for maintaining the state's accounting records and ensuring that the state's financial transactions are transparent and compliant with the law.
The comptroller is also mandated to prepare an annual statement of the state's funds, revenues, and expenditures, which can be likened to the financial statements prepared by businesses that auditors like Richard Fidler would review. The auditor's job is crucial in verifying the accuracy and reliability of these financial reports, which provide stakeholders with confidence in the financial status of the business or state.