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Unmodified Audit Report Overview

The auditor's report communicates the auditor's opinion on the financial statements. It includes what was audited, management and the auditor's responsibilities, and what an audit entails. The auditor shall express an unmodified opinion if they obtain sufficient evidence to conclude that the financial statements are free of material misstatement. An unmodified audit report includes elements such as the title, addressee, auditor's opinion, basis for opinion, management's responsibilities, auditor's responsibilities, and the auditor's signature and date.

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Ed Rheyl
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120 views4 pages

Unmodified Audit Report Overview

The auditor's report communicates the auditor's opinion on the financial statements. It includes what was audited, management and the auditor's responsibilities, and what an audit entails. The auditor shall express an unmodified opinion if they obtain sufficient evidence to conclude that the financial statements are free of material misstatement. An unmodified audit report includes elements such as the title, addressee, auditor's opinion, basis for opinion, management's responsibilities, auditor's responsibilities, and the auditor's signature and date.

Uploaded by

Ed Rheyl
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd

Auditors Report

It is a letter
communicating what was
audited, managements
and the auditors
responsibilities, what an
audit entails and the
auditors opinion.
Auditor shall express an Unmodified
Opinion

The financial statements as a whole are free


from material misstatement .

Able to obtain sufficient appropriate audit


evidence to conclude that the financial
statements as a whole are free from material
misstatement .
Elements of Unmodified Audit
Report
PSA 700 REDRAFTED PSA 700 REVISED
1) TITLE 1) TITLE
2) ADDRESSEE 2) ADDRESSEE
3) INTRODUCTORY 3) AUDITORS OPINION
PARAGRAPH
4) MANAGEMENTS 4) BASIS FOR OPINION
RESPONSIBILITY FOR THE
FINANCIAL STATEMENTS
5) AUDITORS 5) GOING CONCERN
RESPONSIBILTY
6) AUDITORS OPINION 6) KEY AUDIT MATTERS
7) OTHER REPORTING 7) RESPONSIBILITIES OF
RESPONSIBILITIES MANAGEMENT FOR THE
FINANCIAL STATEMENTS
8) SIGNATURE OF THE 8) AUDITORS
AUDITOR RESPONSIBILITIES
9) DATE OF THE AUDITORS 9) OTHER REPORTING
13) SIGNATURE OF THE
AUDITOR
14) AUDITORS ADDRESS

15) DATE OF THE AUDITORS


REPORT

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