Audit report, as recorded in the annual report, examines to check the compliance of a company’s financial statements with various standards. The audit report is, sometimes, also referred as the clean opinion. An audit report includes the auditor’s opinion. It is an official evaluation of an organization’s financial status, in combination with the opinion of the auditor and collected data on the company’s financial transactions and situation.
Constituents of Audit Report
It is important for us to examine the financial statements of a company prior to issuing the audit report. These financial statements are required to be presented fairly in terms of cash flows, results
of operations, and financial status in compliance with GAAP.
Our audit report will feature a declaration that we believes that there is a reasonable basis for the opinion. Also, an opinion that the financial statements are presented fairly in all material aspects.
Non-statutory reports we provide the detailed analysis of our decisions with facts and figures and based on scope of work we also identify the issues and provide solutions. The strength of an auditors is always on their report. It has to be clear, precise and informative with action plans and recommendations. We leave nothing untouched on these parameters.