Audit opinion

Auditors' reports on annual accounts.

An auditors opinion is part of an auditors' report on a company’s audited financial statements.

The audit opinion will generally report on whether the financial statements – among other things:

• Present a true and fair view of the state of affairs of the company (or other entity being reported on), its profit or loss and its cash flows.
• Have been properly prepared in accordance with relevant financial reporting standards.
• Have been prepared in accordance with relevant company law.

Auditors do not guarantee or certify the amounts in the financial statements.

The incorrect belief that they do, is sometimes known as the audit "expectation gap".

See also

• Accounts
• Audit
• Audit trail
• Auditor
• Auditors’ report
• Certificate
• Company law
• Directors report
• Directors' responsibilities statement
• Expectation gap
• Financial reporting
• Financial statements
• Qualified audit report
• Reporting entity
• Shareholders
• True and fair view