What is an audit report?
In Finance, Audit Report, also referred to as a report on the UK, is a summary or document presented by an external independent auditor or an internal audit official. It contains an audit of the company's financial records or accounts. This message is an important tool used in assessing whether the company follows quality standards.
Most audit reports contain analytical and systematic controls, evaluation and recommendations of the auditor in business affairs. The audit report is commonly performed on the financial aspect of the company and also on the performance of the company management. It can also be done in the section, division, department or throughout the business itself.
The financial audit report is commonly known to the public because it includes the company's monetary aspect. This is reflected in books that integrate the balance sheet, profit and loss statement and other funds papers along with the auditor's review. Inteeded parties are the primary set of feedingLes of this audit report because they are directly involved in the corporate body. The government is another candidate in this matter due to justified taxes payable for collection. There are other parties concerned, such as associated entities, competitors and investors who would also consider it useful.
equally important is the report on the performance audit that could introduce how effective and efficient the company is to deal with the resources they have. This is often done by examining traffic, programs and system -used system. The audit is usually performed by an external audit official, although some companies may be audited by the internal auditor employed in the company.
Audit report can be made on the entire strategic business unit (SBU). This also requires a large but detailed investigation regarding its overall operations. SBU is an entity for self -service and self -service thatOften it requires a thorough audit. The audit report can also be performed in a specific subdivision, such as the Public Procurement section, which is responsible for the acquisition of several services and goods of the necessary companies.