The final phase of the audit report engagement can be reporting the studies. To meet her or his reporting responsibilities, the auditor must (1) possess a thorough understanding on the four reporting standards, (2) know the wording of this auditor’s standard report plus the conditions that must be met for it to become issued, (3) understand the varieties of departures from the standard report and this circumstances when each is suitable, and (4) be knowledgeable of selected other special exposure considerations. The audit report shall either contain an expression of opinion regarding the financial statements, taken as a whole, or an assertion to the effect that an opinion cannot be expressed, the reasons thereof should be stated. In all cases where an auditor’s name is associated with financial statements, the report should contain a clear-cut indication of the character of the auditor’s work, if any, and the degree of responsibility the auditor is taking.
The Audit Report Findings
