2. reflecting of the organization’s financial condition of financial statements
used for creating statements and the accountant’s opinion
setting out the scope of the audit, the accountant’s opinion
Referring a certification accompanying financial statements
3. IMPORTANCE
He shall state that whether the company has maintained the proper books of accounts
or not
Whether the branch audit report was received by him or not
He shall mention that whether balance sheet and profit and loss of the company give a
true and fair view of the state of affairs of the company or not.
Whether the accounts are prepared as per the accounting standards issued by the ICAI
Details regarding the disqualifications of directors.
Whether the company has sufficient measures and internal controls to safeguard the
fixed assets and inventory
Details of the disclosure made by the company regarding the impact of any pending
litigations on their financial statement
If any kind of default is made by the company in paying the loans from banks and
financial institutions
Whether the company has made payments without default of any statutory dues
5. An unqualified opinion
is issued when the
independent auditor
believes that the
company's financial
statements are sound
Financial statements
are presented in
accordance to standard
Sufficient and
appropriate evidence
have been accumulated
There are no
circumstances requiring
the addition on an
explanatory paragraph
Unqualified
audit
opinion
6. Lack of consistence standard
Substantial doubt about going concern
Auditor agrees with a departure from
Promulgated accounting
Emphasis of a matter
Reporters involving other auditors
