What is the purpose of an audit report?

Answer An audit report is a formal opinion of a corporation's financial assets after a thorough examination by an auditor. Corporations use it as a means to evaluate their financial information and distri... Read More »

Top Q&A For: What is the purpose of an audit report

What is an audit report?

An audit report is the summary of the findings of an audit that is made by the auditor himself. It generally contains the financial records and accounts of a company, and it is normally done in one... Read More »

What is an audit adverse report?

An adverse audit opinion is an assessment of a firm's financial statements that contain material mistakes from the perspective of Generally Accepted Accounting Principles (GAAP).Adverse versus Disc... Read More »

What is the standard audit report?

A report that summarizes an audit by a public accounting firm on a company's liquidity health is called the standard audit report.The FactsWhen the auditing of a company's financial records is done... Read More »

What is an unqualified audit report?

An unqualified audit report means that a business is following all generally accepted accounting principles (GAAP) and properly disclosing information in financial statements. It provides decent as... Read More »