A
report that discloses or expresses the opinion of an auditor regarding the
reliability & validity of the financial information of a business
organization, is known as audit report.
Seven
parts of standard unqualified audit report.
(1)Report title: It is the title of an audit report. Most often
"Independent auditors' report"or "Auditors' report" is used
as a title.
(2)Audit report address: It is the address to whom the report
will be submitted. Generally they addressed to management or shareholders.
(3)Introductory paragraph: Introductory paragraph encompasses
three things:
firstly, the statement which clarify that which CPA firm has done the
auditing.
secondly, it states that which years financial statements as balance
sheet, income statement, cash flow statement has been audited.
thirdly, it states that the financial statements are the responsibility
of management, the auditors expressed only opinion based on the audit.
(4)Scope paragraph: It is a factual statement about what the
auditor did in the audit, also it states that the auditor followed GAAP
(5)Opinion paragraph: It is the most important part of an audit
report. Here the auditor expresses opinion based on the result of the audit.
(6)Name of CPA firm: The name which identifies the CPA firm or
practitioner who performed the audit.
(7)Audit report date: The appropriate date on which the audit
has been completed.
