CPSC 079 Lecture Notes - Lecture 10: Ias 1, Debenture, Audit Evidence
13 Oct 2016
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Document Summary
Chapter objectives by the end of this the reader should have covered. auditors report to shareholders : audit opinions. introduction. Once the auditor has gathered sufficient appropriate audit evidence on which to base his opinion, he is expected to put his findings on the true and fairness of the financial statements in a report. This report is referred to as the auditors report. The report is primarily meant for the shareholders but can be of benefit to other users of the financial statements as well for example the banks. The wording and the format of the report is guided by law. The audit report is therefore the means by which the auditor reports his opinions as to whether the financial statements show a true and fair view of the state of affairs. Qualified audit reports-when the auditor has reservation on any matter that is considered material to the financial statements, he may introduce qualifying remarks in the audit report.
