Auditor's Report

An auditor's report is a document stating whether or not in an auditor's opinion the financial statement submitted by an organisation is free from material misstatements and is in compliance with prescribed accounting standards and legislation.

Auditor's reports can be modified or unmodified.
Modified reports can be qualified or unqualified.

If a council receives a Qualified Auditor's Report there are a number of consequences, including:

  • ????
  • ????

External Links & References

  1. Wikipedia
  2. Pitcher Partners Qualification Presentation
  3. Does a Qualified Audit Report Really Matter?
  4. ASA 701 Modifications to the Auditors Report Fact Sheet
  5. Google Search
  6. Local Government: 2015-16 Audit Snapshot (Victoria)
Unless otherwise stated, the content of this page is licensed under Creative Commons Attribution-ShareAlike 3.0 License