Audit reports help managers monitor their activities to verify processes and analyze the results in case of any failures. Keep reading this article and learn some tips to achieve an efficient audit report.
What is an audit report?
The auditor’s report is a document prepared by an external auditor where he expresses an opinion on all the annual accounts or financial statements that they present to a company. There are 4 types of audit report opinions:
- Clean or unqualified opinion
- Opinion with qualifications
- Adverse or negative opinion
- Abstention or denied opinion
What should be included in audit reports?
- PRESENTABLE COVER
When presenting a professional report external to a company, it is important to show the care and commitment of the audit team, therefore, the cover page must include:
- Job Title
- Name of the responsible auditor
- End Date
- Name of the audited company or organizational unit
- WELL-WRITTEN INTRODUCTION
The introduction in the audit report must contain relevant information such as:
- Overview
- Regulations and laws that supported the analysis
- Present history of other reports
- Explain the reasons for the audit information
- BREVITY
The audit report must be summarized, without leaving aside the important and relevant data of the analysis.
- REALITY
The audit report must have the reality of the current situation of the audited company, making it clear what is failing in the processes, within the framework of the regulations and if there are any non-compliances that we must take into account to avoid a sanction or fine.
At VLH we have the best auditors who can help you in different types of audits that we offer you so that you can request the one that best suits your needs. Request your advice today!