Audit Report.pptx objectives- types- importance

An audit report is a written statement by an auditor after examining a company’s accounts.It shows whether the financial statements give a true and fair view of the company’s financial position.

1. Audit Report Prepared By : Dr Jenifer Thangam J Designation : Assistant Professor

2. Meaning of Audit Report An audit report is a written statement by an auditor after examining a company’s accounts. It shows whether the financial statements give a true and fair view of the company’s financial position. Prepared by: External or Internal Auditors

3. Objectives of Audit Report To express the auditor’s opinion on financial statements To ensure transparency and accountability To detect and prevent frauds or errors To build trust among investors and stakeholders

4. Types of Audit Reports Unqualified Report – Clean opinion (everything is correct) Qualified Report – Minor issues found Adverse Report – Major misstatements Disclaimer Report – Auditor unable to give an opinion

5. Importance of Audit Report Ensures reliability of financial statements Helps management in decision-making Increases investor confidence Fulfills legal and regulatory requirements