Audit Report
The preparation of audit report is the last work of audit. An auditor presents weakness, strength and details of an organization by preparing audit report. Audit report accumulates all the facts of audit. So, it is the proof of conducting audit properly.
Audit is related with the examination of books of accounts on the basis of regularity, rationality, economy and efficiency. An auditor checks the books of accounts on the basis of evidential documents. So, a financial statement is prepared by the auditor on the basis of information collected from the examination of evidential documents and records. An auditor should prepare report incorporating the facts found during the course of audit which is known as audit report.
Audit report is an important document in which the auditor sets forth the scope and nature of the audit and also gives his impartial opinion regarding the client's financial statement. It is the last outcome of every audit. We can find vast difference in the reports which were prepared previously and the reports prepared nowadays because the responsibility of an auditor is increased highly. So, an auditor should prepare report considering the following facts:
1. Address should be made to the authority that has appointed him.
2. Auditor should express his opinion in connection to financial statements.
3. Auditor should prepare report based on the facts found after the examination of all the books of accounts.
4. Date must be written in report which shows the duration of audit.
5. Audit report may clean, qualified and adverse.
6. All the facts incorporated in report should be concise, clear and correct.
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