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Auditor's Report |
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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. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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Los Angeles County Supervisor Zev Yaroslavsky disputed a recent auditor's report that claimed most of the sewage spills occurred in his district. The AICPA's Auditing Standards Board has a current project to consider whether the auditor's report should be revised. EBSA's Office of the Chief Accountant will review more than 500 audits over the next few years, and assess penalties on plan sponsors of up to $1,100 a day (capped at $50,000) per annual report filing where the required auditor's report is missing or deficient. |
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Auditor's Report
