The Annual Audited Financial Statement is a set of financial statements and information that provide details about Frederick Water.

The Annual Audited Financial Statement is prepared by a firm of licensed certified public accountants in conformity with generally accepted auditing standards; the standards for financial audits contained in the Government Auditing Standards issued by the Comptroller General of the United States; and the Specifications for Audits of Authorities, Board and Commissions issued by the Auditor of Public Accounts of the Commonwealth of Virginia.