Scribd
Upload
41 views5 pages

Audit Assignment

The document certifies that Sheetal Chauhan completed an independent audit report project under the supervision of Amandeep Kaur Ma'am for her B.Com degree at Guru Gobind Singh College for Women. It outlines the essential components of an auditor's report, including the title, addressee, auditor's opinion, basis for opinion, responsibilities of management, and auditor's responsibilities. The report must be signed, dated, and include specific details regarding the audit process.

Uploaded by

mirai anime
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
41 views5 pages

Audit Assignment

The document certifies that Sheetal Chauhan completed an independent audit report project under the supervision of Amandeep Kaur Ma'am for her B.Com degree at Guru Gobind Singh College for Women. It outlines the essential components of an auditor's report, including the title, addressee, auditor's opinion, basis for opinion, responsibilities of management, and auditor's responsibilities. The report must be signed, dated, and include specific details regarding the audit process.

Uploaded by

mirai anime
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
You are on page 1/ 5

Certificate

This is to certify that the project entitled AUDIT REPORT


submitted by SHEETAL CHAUHAN student of B.com part 2 (semester 4 )
of the Department of Commerce session 2022-23 of Guru Gobind Singh College
for Women, Sector 26, Chandigarh, is a bonafide work done done by her under
my guidance and supervision and project represents independent work on the part
of the candidate.

AMANDEEP KAUR MA’AM


Supervisory Teacher
Guru Gobind Singh College for Women
Sector 26, Chandigarh
Declaration

I, SHEETAL CHAUHAN ,hereby declare that the project work entitled


AUDIT REPORT is an authenticated work carried out by me under the
guidance of AMANDEEP KAUR MA’AM for the fulfilment of the award of
degree of Bachelor of Commerce and this work has not been submitted for
similar purpose anywhere else except to Department of Commerce.

Signature of the Student


AUDIT REPORT

AUDIT REPORT INCLUDES THE FOLLOWING:

1. TITLE: The auditor’s report shall have a title that clearly indicates that it
is the report of an independent auditor.
2. ADDRESSEE: The auditor’s report shall be addressed, as appropriate,
based on the circumstances of the engagement. Law, regulation or the
terms of the engagement may specify to whom the auditor’s report is to
be addressed.
3. AUDITOR’s OPINION: The first section of the auditor’s opinion, and shall
have the heading “opinion.”

The opinion section of the auditor’s report shall also:


• Identify the entity whose financial statements have been
audited;
• State that the financial statements have been audited;
• Identify the title of each financial statement comprising the
financial statements;
• Refer to the notes, including the summary of significant
accounting significant policies; and
• Specify the date, or period covered by each financial statement
comprising the financial statements.

4. BASIS FOR OPINION: The auditor’s report shall include a section, directly
following the opinion section, with the heading “Basis for Opinion”, that:

• State that the audit was conducted in accordance with SAs;


• Refer to the section of the auditor’s report that describes the
auditor’s responsibilities under SAs;
• Includes a statement that the auditor is independent of the
entity in accordance with the relevant ethical requirements
relating to the audit and has fulfilled the auditor’s other ethical
responsibilities in accordance with these requirements.
• State whether the auditor believes that the auditor has obtained
is sufficient and appropriate to provide a basis for the auditor’s
opinion.

5. GOING CONCERN
6. KEY AUDIT MATTERS
7. RESPONSIBLITIES FOR THE FINANCIAL STATEMENTS: The auditor’s
report shall include a section with heading “Responsibilities of
Management for the financial statements.”
8. AUDITOR’ S RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL
STATEMENTS: The auditor’s report shall include a section with heading
“Auditor’s responsibilities for the audit of the financial statements.”
9. LOCATION OF THE DESCRIPTION OF THE AUDITOR’S RESPONSIBILITIES
FOR THE AUDIT OF THE FINANCIAL STATEMENTS: The description of the
auditor’s responsibilities for the audit of the financial statements shall
be included:

a) Within the body of the auditor’s report


b) Within an appendix to the auditor’s report, in which case the
auditor’s report shall include a reference to the location of the
appendix or
c) By a specific reference within the auditor’s report to the location
of such a description on a website of an appropriate authority,
where law, regulation or national auditing standards expressly
permit the auditor to do so.

10. OTHER REPORTING RESPONSIBILITIES


11. SIGNATURE OF THE AUDITOR: The auditor’s report shall be signed. The
report is signed by the auditor in his personal name. Where the firm is
appointed as the auditor, the report is signed in the personal name of
the auditor and in the name of the audit firm.
12. PLACE OF SIGNATURE: The auditor’s report shall name specific location,
which is ordinarily the city where the audit report is signed.
13. DATE OF THE AUDITOR’S REPORT: The auditor’s report shall be dated
no earlier than the date on which the auditor has obtained sufficient
appropriate audit evidence on which to base the auditor has obtained
sufficient appropriate audit evidence on which to base the auditor’s
opinion on the financial statements.

You might also like