2.2 - Auditor's Report Basic Elements

Question 1

What 3 basic elements come first?

Answer 1

• title
• addressee
• auditor’s opinion section, with the heading ‘Opening’, expressing an opinion on the financial statements

Question 2

What 3 basic elements come second?

Answer 2

• basis for opinion section
• going concern section, where applicable
• key audit matters section, for audits of listed companies

Question 3

What 3 basic elements come third?

Answer 3

• other information section
• responsibilities of management for the financial statements section
• auditor’s responsibilities for the audit of the financial statements section

Question 4

What 3 basic elements come fourth?

Answer 4

• explanation of the extent to which the audit was considered capable of detecting irregularities, including fraud
• opinion on other matters such as specific statutory requirements
• matters on whic