The purpose of this study is to examine the information content of audited consolidated financial statements. The information content of consolidated financial statements was tested for both consolidated earnings and non-earnings consolidated accounting data, and various test models were applied to enhance the generalizability of the results. The information content of consolidated earnings was found to be significant regardless of the test model employed. Additionally, among non-earnings consolidated accounting data, the consolidated current ratio was observed to possess incremental information content beyond consolidated earnings. These results provide evidence that audited consolidated accounting data are utilized by information users in the securities market and reflected in stock prices. Meanwhile, additional analysis of unaudited consolidated earnings revealed that, unlike audited consolidated earnings, unaudited consolidated earnings were not significant. These findings suggest that the information content of audited consolidated accounting data may have emerged because the reliability of consolidated financial statement information was enhanced through external auditing.