What is an Auditor's Report? How to Read It

The auditor's report is the auditor's public conclusion following the audit of the annual financial statements. It accompanies the financial statements for companies subject to audit and provides the reader with information about the auditor's assessment.

What does it contain?

The report identifies the company and the financial statements, describes the responsibilities of management and the auditor, and expresses a conclusion. A standard conclusion means that the auditor believes the financial statements have been prepared, in all material respects, in accordance with the applicable reporting framework.

This does not mean that the company is without risk, that all transactions have been checked, or that the company will be able to meet its future obligations.

Qualifications and Other Remarks

The auditor may issue a qualified opinion, an adverse opinion, or state that it is not possible to conclude if the circumstances are serious. An emphasis of matter can draw attention to important information without changing the conclusion itself.

Read the entire document and link the remark to the relevant notes. The significance must be assessed on a case-by-case basis.

Auditor's Report on Proffi

Proffi should display the document for the correct financial year and highlight the type of conclusion with a link to the original. An automated summary must be clearly marked and should not replace the original document. Historical reports must be preserved separately.