What's an audit report?
The auditor's report is a document containing the auditor's opinion on whether a company's financial statements comply with GAAP and are free from material misstatement. The audit report is important because banks, creditors, and regulators require an audit of a company's financial statements.
How many types of auditing reports are there?
There are four types of audit reports: and unqualified opinion, a qualified opinion, and adverse opinion, and a disclaimer of opinion. An unqualified or "clean" opinion is the best type of report a business can get.
What are the four types of audit?
There are three main types of audits: external audits, internal audits, and Internal Revenue Service (IRS) audits. External audits are commonly performed by Certified Public Accounting (CPA) firms and result in an auditor's opinion which is included in the audit report.
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[PDF] Understanding a financial statement audit - PwC
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[PDF] The Audit Report on a General Purpose Financial Report
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- what is audit opinion and its types
- how many types of audit report are there
- meaning of audit report and types
- what are the 4 types of audit reports