The single most important document released by auditors is the auditor’s report which appears in the audited annual financial statements.
The so-called new and revised auditor reporting standards are affective for audits of financial statements for periods ending on or after 15 December 2016; in essence, 31 December 2016 financial year-ends. Although the audit opinion as such does not change, the auditor’s report has been enhanced to improve its communicative value and to provide more entity-specific and audit-specific information about the audit that has been performed.
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