THE AUDIT REPORT
INTRODUCTION
The audit report is the written document prented to the principal, authorizer or other statutory recipients by the auditors or audit institution responsible for fulfilling an audit assignment.属龙今天运势
It is an integrated reflection of the audit work and its results and an important way to exhibit audit achievements. As the subjects of audit, types of audit assignments and recipients of reports differ, audit reports also differ in nature, contents, binding force and methods of preparation. The audit report referred to herein is the audit report that is prepared by the audit team and submitted to the audit institution in the conduct of government audits. It is a written document that the audit team prents to its dispatching audit institution at the completion of field audit about the fulfillment of audit tasks and achievement of audit results.
The Role of the Audit Report
As a summary of audit work and its achievements, the audit report is of great significance to the audit institution, the audited body and other urs of the report.
The audit report is the esntial basis for the top management of the audit institution to learn about the conduct of audit, make relevant judgment and handle audit issues. According to the Audit Law, after auditing the audit items, auditors should submit their audit report to the audit institution within the prescribed time limit explaining audit work and results, evaluating audit items and putting forward audit recommendations. Conquently, the audit institution can u the report to understand work done by the audit team, including timing, scope and methods of audit, basic situation and business operation/results of the audited body and problems discovered in the cour of audit.
The audit report is the foundation for audit opinions and decisions. After the audit team completes the audit assignment, the audit institution needs to evaluate the truthfulness, compliance and effectiveness of the audit items, produce its audit opinion, and make its a
udit decision on punitive measures (such measures are to be impod on the audited body against its irregular actions of revenues and expenditures that are discovered in audit). Only by relying on the audit report prented by the audit team can the audit institution understand the economic activities of the audited body or project, learn about the latter’s compliance with relevant laws and regulations and then evaluate the audit items and mete out appropriate penalties or punishments.
The audit report is an important source for the audit institution to prepare audit information for the government’s macroscopic decision making. By summarizing, integrating and analyzing information provided by each individual audit report from the perspective of macroscopic operation and management, the audit institution can play its role in promoting and strengthening macroscopic management within a certain scope by providing the government and relevant organizations with factual, analytical and suggestive audit information
回字成语The audit report is an important reference for the audited body to improve its managemen
t. In the audit report, auditors evaluate the financial position, profitability and liquidity of the audited body, evaluate and analyze caus for errors in financial activities and defects in internal control, disclo existing problems and shortcomings and put forward recommendations for reference of competent authorities. Such information and comments provided by the auditors are of great reference value for the audited body to improve its internal control and management.
Contents of the Audit Report
As a type of documentation employed in the audit institution, the audit report posss all the basic elements of an official document, including title, major recipient, subjects of report, signature by the audit team leader, date of reporting, etc.
∙ The title of the audit report should include the name of the audited body, major contents and timing of the audit items.
微信生日祝福∙ Major recipient of the audit report usually refers to the audit institution that dispatches the audit team to do the audit assignment.
∙ Subjects of report are main component of the audit report reflecting the audit work and its results.
鱼池设计图∙ Signature of the audit team leader means that the team leader assumes responsibility for the truthfulness and lawfulness of the contents reported by his team.
创造的重要性∙ Date of reporting refers to the date when field audit is completed.
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To be more specific, the audit report includes the following aspects:
Explanation of audit tasks
The audit report should provide a conci explanation about the relevant audit tasks. Such an explanation covers the following
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