How to report audit findings?

Question

584 viewsDecember 3, 2012Auditing

0

Schor December 2, 2012 0 Comments

Where are audit findings reported to? What are the responsibilities of the auditors and how do they usually report their findings? Do they only report material errors that they find?

1 Answer

score 0 · Answer 1 · 2012-12-02T15:59:14+00:00

The audit findings are reported in the audit report. If there is no finding of material error, then the audit opinion is unqualified. Apart from the audit opinion, the audit findings are also reported to the management and the audit committee.