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Auditor's Report
(redirected from Audit report)

   Also found in: Wikipedia 0.03 sec.
Auditor's Report
Recorded in the annual report, the auditor's report tests to see that a corporation's financial statements comply with GAAP. This is sometimes referred to as the clean opinion.

Notes:
Most auditor's reports consist of three paragraphs. The first states the responsibilities of the auditor and directors. The second is the scope, stating that GAAP was used. Finally, the third paragraph gives the auditor's opinion.


Auditor's report
A section of an annual report that includes the auditor's opinion about the veracity of the financial statements.

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California auditors will no longer have to scramble to complete their audit documentation prior to issuing an audit report.
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