The document discusses the structure and content of an audit report based on ISA 700. It explains that an audit report includes sections for the title, introductory paragraph, management and auditor responsibilities, modifications to the opinion if needed, the audit opinion itself which can be unmodified or modified, and other matters like an emphasis of matter paragraph. It describes the different types of modified opinions including qualified, adverse, and disclaimer opinions based on the level of misstatements or insufficient evidence. The document provides details on each section of the audit report and its purpose.

2. AUDIT
REPORTING

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4. AUDIT REPORTING
OPINION
STRUCTURE OTHER
MATTERS
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5. AUDIT REPORTING
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6. AUDIT REPORTING
ISA 700 STRUCTURE
Title & Addressee
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7. AUDIT REPORTING
ISA 700 STRUCTURE
Title & Addressee
Introductory paragraph
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8. AUDIT REPORTING
ISA 700 STRUCTURE
Title & Addressee
Introductory paragraph
Management Responsibility
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9. AUDIT REPORTING
ISA 700 STRUCTURE
Title & Addressee
Introductory paragraph
Management Responsibility
Auditor Responsibility
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10. AUDIT REPORTING
ISA 700 STRUCTURE
Title & Addressee
Introductory paragraph
Management Responsibility
Auditor Responsibility
Any modifications
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11. AUDIT REPORTING
ISA 700 STRUCTURE
Title & Addressee
Introductory paragraph
Management Responsibility
Auditor Responsibility
Any modifications
Opinion & other responsibilities
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12. AUDIT REPORTING
ISA 700 STRUCTURE
Title & Addressee
Introductory paragraph FS & Policies
Management Responsibility
Auditor Responsibility
Any modifications
Opinion & other responsibilities
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13. AUDIT REPORTING
ISA 700 STRUCTURE
Title & Addressee
Introductory paragraph
Management Responsibility
Auditor Responsibility
Any modifications
Opinion & other responsibilities
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14. AUDIT REPORTING
ISA 700 STRUCTURE
Title & Addressee
Introductory paragraph
Management Responsibility Policies & estimates
FS, Controls,
Auditor Responsibility
Any modifications
Opinion & other responsibilities
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15. AUDIT REPORTING
ISA 700 STRUCTURE
Title & Addressee
Introductory paragraph
Management Responsibility
Auditor Responsibility
Any modifications
Opinion & other responsibilities
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16. AUDIT REPORTING
ISA 700 STRUCTURE
Title & Addressee
Introductory paragraph
Management Responsibility ISAs,
Opinions,
Auditor Responsibility Procedures (evidence &
Reasonable Assurance
Any modifications risk)
Opinion & other responsibilities
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17. AUDIT REPORTING
ISA 700 STRUCTURE
Title & Addressee
Introductory paragraph
Management Responsibility
Auditor Responsibility
Any modifications
Opinion & other responsibilities
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18. AUDIT REPORTING
ISA 700 STRUCTURE
Title & Addressee
Introductory paragraph
Management Responsibility
Auditor Responsibility
Clear descriptions
Any modifications All substantive reasons
Financial effect
Opinion & other responsibilities
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19. AUDIT REPORTING
ISA 700 STRUCTURE
Title & Addressee
Introductory paragraph
Management Responsibility
Auditor Responsibility
Any modifications
Opinion & other responsibilities
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20. AUDIT REPORTING
ISA 700 STRUCTURE
Title & Addressee
Introductory paragraph
Management Responsibility
Auditor Responsibility
Any modifications
Opinion & other responsibilities
Legal,
regulatory
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21. AUDIT REPORTING
ISA 700 STRUCTURE
Title & Addressee
Introductory paragraph
Management Responsibility
Auditor Responsibility
Any modifications
Opinion & other responsibilities
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22. AUDIT REPORT
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23. AUDIT REPORT
SIGNATURE DATE ADDRESS
Phil Thissin Tes Ting Sue Yu Reg Yulation
Partner Audit Manager Legal Junior
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25. AUDIT REPORTING
OPINION
STRUCTURE OTHER
MATTERS
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26. AUDIT REPORT
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27. AUDIT REPORT
AUDIT OPINION
MODIFIED (misstatement or Insufficient evidence)
UNMODIFIED
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28. AUDIT REPORT
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29. AUDIT REPORT
UN MODIFIED
True & Fair
In accordance with Framework
In accordance with Legislation
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30. AUDIT REPORT
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31. AUDIT REPORT
MODIFIED
QUALIFIED
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32. AUDIT REPORT
MODIFIED
QUALIFIED
Material Misstatements (disagreement)
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33. AUDIT REPORT
MODIFIED
QUALIFIED
Material Misstatements (disagreement)
Except For Paragraph
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34. AUDIT REPORT
MODIFIED
QUALIFIED
Material Misstatements (disagreement)
Except For Paragraph
Material & Pervasive Misstatements (disagreement)
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35. AUDIT REPORT
MODIFIED
QUALIFIED
Material Misstatements (disagreement)
Except For Paragraph
Material & Pervasive Misstatements (disagreement)
Adverse Opinion
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36. AUDIT REPORT
MODIFIED
QUALIFIED
Material Misstatements (disagreement)
Except For Paragraph
Material & Pervasive Misstatements (disagreement)
Adverse Opinion
Material Insufficient Evidence
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37. AUDIT REPORT
MODIFIED
QUALIFIED
Material Misstatements (disagreement)
Except For Paragraph
Material & Pervasive Misstatements (disagreement)
Adverse Opinion
Material Insufficient Evidence
Except For Paragraph
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38. AUDIT REPORT
MODIFIED
QUALIFIED
Material Misstatements (disagreement)
Except For Paragraph
Material & Pervasive Misstatements (disagreement)
Adverse Opinion
Material Insufficient Evidence
Except For Paragraph
Material & Pervasive Insufficient Evidence
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39. AUDIT REPORT
MODIFIED
QUALIFIED
Material Misstatements (disagreement)
Except For Paragraph
Material & Pervasive Misstatements (disagreement)
Adverse Opinion
Material Insufficient Evidence
Except For Paragraph
Material & Pervasive Insufficient Evidence
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Disclaimer of Opinion

40. Material &
Material
Pervasive
Misstatement Except for Adverse
Insufficient
Except for Disclaimer
Evidence

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42. AUDIT REPORTING
OPINION
STRUCTURE OTHER
MATTERS
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43. AUDIT REPORT
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44. AUDIT REPORT
OTHER MATTERS
Emphasis of matter paragraph
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45. AUDIT REPORT
OTHER MATTERS
Within the opinion
Emphasis of matter paragraph
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46. AUDIT REPORT
OTHER MATTERS
Within the opinion
A modification
Emphasis of matter paragraph
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47. AUDIT REPORT
OTHER MATTERS
Within the opinion
A modification
NOT adverse opinion
Emphasis of matter paragraph
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48. AUDIT REPORT
OTHER MATTERS
Emphasis of matter paragraph
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49. AUDIT REPORT
OTHER MATTERS
Emphasis of matter paragraph
Used for:
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50. AUDIT REPORT
OTHER MATTERS
Emphasis of matter paragraph
Used for:
Significant Uncertainty
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51. AUDIT REPORT
OTHER MATTERS
Emphasis of matter paragraph
Used for:
Significant Uncertainty
Going Concern
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52. AUDIT REPORT
OTHER MATTERS
Emphasis of matter paragraph
Special Purpose Audit
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53. AUDIT REPORT
OTHER MATTERS
Emphasis of matter paragraph
Summarised FS
Special Purpose Audit
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54. AUDIT REPORT
OTHER MATTERS
Emphasis of matter paragraph
Summarised FS
Special Purpose Audit Consistent with A/C &
Directors report
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55. AUDIT REPORT
OTHER MATTERS
Emphasis of matter paragraph
Summarised FS
Special Purpose Audit Consistent with A/C &
Directors report
No opinion (refer to full
FS opinion)
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56. AUDIT REPORT
OTHER MATTERS
Emphasis of matter paragraph
Special Purpose Audit
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57. AUDIT REPORT
OTHER MATTERS
Emphasis of matter paragraph
Abridged FS
Special Purpose Audit
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58. AUDIT REPORT
OTHER MATTERS
Emphasis of matter paragraph
Abridged FS
Special Purpose Audit SMEs (no audit)
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59. AUDIT REPORT
OTHER MATTERS
Emphasis of matter paragraph
Abridged FS
Special Purpose Audit SMEs (no audit)
Entitled & Properly
prepared
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60. AUDIT REPORT
OTHER MATTERS
Emphasis of matter paragraph
Abridged FS
Special Purpose Audit SMEs (no audit)
Entitled & Properly
prepared
Report signed
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61. AUDIT REPORT
OTHER MATTERS
Emphasis of matter paragraph
Special Purpose Audit
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63. AUDIT REPORTING
OPINION
STRUCTURE OTHER
MATTERS
Richard Clarke Academy aCOWtancy.com