Auditor's report

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Auditor's report

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

Accountant's Opinion

An auditor's statement that he/she has reviewed the financial statements of a company and believes that they are accurate, complete, and in accordance with Generally Accepted Accounting Principles. Most of the time, a publicly-traded company's annual report contains an accountant's opinion; a report without one can be a matter of concern to investors. Instead of an accountant's opinion, the auditor may issue a qualified opinion, stating that the auditor is unable to render a full opinion about a company's finances, or a portion thereof, because the company's accounting does not meet the Generally Accepted Accounting Principles, or because the information was for some reason incomplete. An accountant's opinion is also called an auditor's report, a clean opinion, or simply an opinion.

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The financial statements and auditor report were not lodged during the suspension period, and ASIC cancelled Allegianz's AFS licence on 7 September 2016.

Australia : ASIC cancels a suspended Australian Financial Services licence after failure to lodge financial statements and auditor reports

Department of the Treasury's Advisory Committee on the Auditing Profession (ACAP) recommended that the PCAOB undertake a standard-setting initiative to consider improvements to the standard auditor report.

The PCAOB's proposed changes to the auditor reporting model: an in-depth overview for the classroom and beyond

By far, the most common auditor report subject to SAS 125 is listed third in the above list--the "by product" report is usually not even called a report-namely the "management letter" The primary objective of an audit of financial statements is to determine if they are stated in accordance with GAAP.

Standard alert: SAS 125: guidance regarding auditor's written communication

The AICPA's Auditing Standards Board (ASB) voted to issue a proposed requirement for an expanded auditor report that converges with the guidance from the International Auditing and Assurance Standards Board (IAASB).

ASB moves toward converging audit reporting guidance with inter national standards

Lastly, the Act has a provision not covered by SAS 90, which requires that the auditor report to the audit committee "other material written communications" between the auditor and the client.

Get your ducks in a row: how the Sarbanes-Oxley Act has redefined auditor independence

When the auditor reports on an incomplete presentation but one that is otherwise in accordance with generally accepted accounting principles (GAAP), the auditor should include an emphasis-of-matter paragraphs in the auditor's report that

Statement on auditing standards - special considerations - audits of single financial statements and specific elements, accounts, or items of a financial statement

The ABA's comment letter called for a revised definition of materiality for purposes of the internal control assessment, and for the SEC to encourage the PCAOB to eliminate one of the two overlapping auditor reports on internal control that are required under AS2.

Regulators taking open approach to 404 changes

See the AICPA Audit and Accounting Guide State and Local Governments for illustrative auditor reports.

Statement on auditing standards-forming an opinion and reporting on financial statements

The IAPC has long required that auditor reports identify which country's accounting principles have been used in audited financial statements where that is not evident.

Proposed Changes To Audit Reports

11) When management revises the financial statements and the auditor reports on the revised financial statements, the new date (or the dual date) included in the auditor's report cannot be earlier than the date on which the auditor carried out the audit procedures necessary in the circumstances on the revision, including that the documentation has been reviewed and management has prepared and asserted that they have taken responsibility for the revised financial statements.

Statement on auditing standards - subsequent events and subsequently discovered facts