Question

How to type the auditing report in NZ

Answer 1

AUDITOR’S REPORT

Name of Addressee

Address of Addressee

Report on the Financial Statements

We have audited the accompanying financial statements of XXXX, which comprise the statement of financial position as at December 31, 20XX, Profit and Loss statement, and the cash flow statement for the year then ended, and a summary of significant accounting policies and other explanatory notes.

Management’s Responsibility for the Financial Statements

Management is responsible for the preparation and presentation of financial statements that give a true and fair view in accordance with applicable financial reporting framework. This responsibility is to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error; selecting and applying appropriate accounting policies; and making accounting estimates that are reasonable in the circumstances.

Auditor’s Responsibility

Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with auditing standards and applicable statute. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance whether the financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation and presentation of financial statements that give a true and fair view in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our qualified audit opinion.

Basis for Qualified Opinion

We were appointed as auditors of the XXXX Company on XXXXX and thus did not observe the counting of the physical inventories at the beginning of the year. We were unable to ………………………….

Qualified Opinion

In our opinion, except for the possible effects of the matter described in the Basis for Qualified Opinion paragraph, the financial statements give a true and fair view of the State of Affairs of ABC Company as of December 31, 20XX, and of its Results of Operations and its cash flows for the year then ended in accordance with applicable financial reporting framework.

Other Matters

The financial statements of the Company for the year ended December 31, 20XX, were audited by another auditor whose report dated XXXXX expressed an unmodified opinion on those statements.

Report on Other Legal and Regulatory Requirements

[Form and content of this section of the auditor’s report will vary depending on the nature of the auditor’s other reporting responsibilities].

For XXX and Co.

Chartered Accountants

Signature

(Name of the Member Signing the Audit Report)

(Designation)

Place of Signature:

Date: