The opinions and observations of the company's financial situation are prepared as per the Companies Act and Accounting Standards. This article sheds light on the nature of the Audit Report and its importance for the company.
What are the contents of the Audit Report?
How does the Audit Report represent the Company?
The audit report represents the unbiased view of the company and helps various groups of people associated with such a company in decision-making. The groups which can benefit from the Audit report are:
The audit report of an independent professional provides a true and fair view of the management and operations to all those associated with the company directly or indirectly, without having any biased approach. Therefore, assisting the company and others in decision making and constructing their prospects.