Audit opinion

Structure of an Auditor Report

Auditor’s responsibility	The auditor must state and explain their responsibility of auditing the company’s financial status as required by the law. They confirm they will do their best to provide results that are unbiased and free of personal influence.
Auditor’s opinion	In this section, the auditor outlines their opinion of the company’s financial status depending on their findings. They state whether the report is clean, qualified, disclaimer, or adverse opinion, and then go on to explain their opinion. This part usually include details such as: Company’s name Auditing timespan, such as annual, quarterly, etc. Financial records presented to the auditor for review Auditor’s opinion on the company’s financial position A statement on the company’s compliance with accounting stabdards guidelines
Basis for opinion	This section explains the auditor’s opinion in the previous section. It consists of the auditor’s opinion (report type), the different assessments undertaken in the review process, compliance to accounting standards guidelines, results of the tests, and an explanation of the audit. Depending on the type of audit report issued by the auditor, this section can include areas that require improvement and other recommendations to help the company do better. Company management can use this section to determine areas that can use some improvement.