Auditor's Report On Financial Statements
See also: Financial auditIt is important to note that auditor's reports on financial statements are neither evaluations nor any other similar determination used to evaluate entities in order to make a decision. The report is only an opinion on whether the information presented is correct and free from material misstatements, whereas all other determinations are left for the user to decide.
There are four common types of auditor's reports, each one presenting a different situation encountered during the auditor's work. The four reports are as follows:
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Famous quotes containing the words report, financial and/or statements:
“The report reflects incredibly terrible judgments, shockingly sparse concern for human life, instances of officials lacking the courage to exercise the responsibilities of their high office and some very bewildering thought processes.”
—Jane Jarrell Smith, U.S. widow of American astronaut Michael J. Smith. As quoted in Newsweek magazine, p. 13 (June 30, 1986)
“In full view of his television audience, he preached a new religion—or a new form of Christianity—based on faith in financial miracles and in a Heaven here on earth with a water slide and luxury hotels. It was a religion of celebrity and showmanship and fun, which made a mockery of all puritanical standards and all canons of good taste. Its standard was excess, and its doctrines were tolerance and freedom from accountability.”
—New Yorker (April 23, 1990)
“Science is a system of statements based on direct experience, and controlled by experimental verification. Verification in science is not, however, of single statements but of the entire system or a sub-system of such statements.”
—Rudolf Carnap (1891–1970)