The Right and Proper Sample Audit Report
An audit report contains a complete assessment of financial condition in the company or institution. The audit process is carried out by a professional independent accountant. The results of the report contain the number of assets and the feasibility of the company. This audit process is required by law if your company has become a public company. Therefore, if your company plans to conduct an audit, you should see the sample audit report as a reference.
Knowing the Function of Sample Audit Report
If you are the accountant or at least have a plan to understand the things about the audit process, you can see the sample audit report. Through this sample, you can learn about the correct audit process. Besides, it will give the idea of what the audit process in your company is like.
What Makes a Sample Audit Report Different?
In some cases, the audit report can be referred to as a company or agency secret, so it is not easily published. Usually, the public is only given information about the final results of the audit, whether including unqualified opinion, qualified opinion, adverse opinion or disclaimer opinion. As for the sample audit report, it can use the original audit report of the company, agency or even the audit results of the fictitious company.
Look at the Sample Audit Report Format
The audit report has several types. Each type of report has different information; there are reports on the results of financial audits, internal audits of the company to the forensic audits. However, in general, each audit report has the following format.
1. Report title
This section must include the date and recipient of the report. The audit date is usually taken from the last day the accountant works, while the recipient is the leader of the board in the company or the head of the organization.
2. Introductory paragraph
It contains a statement if the audit has been completed; it has identified the financial statements and provided information if the company’s management team is responsible for the accuracy of financial statements.
3. Scope paragraph
This section explains if the audit follows the rules and methods established by the authorities. It also provides a guarantee for the accuracy of financial statements. This is also to prove the company’s testing method based on auditor testing.
4. Executive summary
The paragraph contains a summary of the audit findings. The summary results contain things that are considered important for the company. The next part is an executive summary that focuses on the disclosure of audit findings.
5. Opinion paragraph
This part contains the financial situation report of the company or individual audited along with the methods and procedures used to produce the conclusions. The auditor provides advice on the financial health of the organization.
6. Auditor’s name
7. Auditor’s signature
Free Sample Audit Report Template
If you are interested in becoming a professional independent accountant, it would not hurt if you look at some sample audit report templates. You can get these templates for free, so you can save your money. There are various types of report templates to use according to your needs.