A report by the auditors appointed to audit the accounts of a company or other organization. Auditors' reports may take many forms depending on who has appointed the auditors and for what purposes. Some auditors are engaged in an internal audit while others are appointed for various statutory purposes. The auditors of a limited company are required to form an opinion as to whether the annual accounts of the company give a true and fair view of its profit or loss for the period under review and of its state of affairs at the end of the period; they are also required to certify that the accounts are prepared in accordance with the requirements of the Companies Act. The auditors' report is technically a report to the members of the company and it must be filed together with the accounts with the Registrar of Companies. The report must also include an audit of the directors' report with respect to consistency. The Companies Act 2006 creates a new criminal offence of knowingly or recklessly supplying false or deceptive information in an auditors' report.
Subjects: Financial Institutions and Services — Accounting.