Hence the report should not only be written in compliance with the audit standards but should be prepared with management’s full cooperation. Additionally, Annual Audit Report may have an effect on the concerned company’s strategic decisions and business operations if the shareholders are not satisfied with the auditor’s recommendations at the end of the report. It, however, gives an insight into the management controls and any discrepancies found in them. The Annual Audit Report is prepared in collaboration with the management therefore it is possible that an audit report may not represent or provide a completely honest picture.
Most importantly, as required by most reports, consistency, and engaging content make the report easy to read and comprehend. All this information is mostly summarized to keep the report concise and meaningful. This is then layered down into descriptions that describe what the graphics mean whilst keeping the reader’s background in mind. Some of the other miscellaneous areas covered in this phase are the year for which the audit was carried out, a detailed description of the audit procedure, and the area covered on management controls as well as weaknesses found.įurther, in the Annual Audit Report, any findings or observations found during the audit are reported through graph displays and charts. When we progress further with the report the auditors signify the purpose of the audit as well as the report. It should be noted that prior to the introduction the names of the auditors are listed who carried out the audit in conjunction with the audit company that has rendered its service. This is usually done to provide background information to the audience of the report mainly shareholders. But first, in this report, auditors commence with an introductory paragraph that briefly introduces the reader to the audit and its importance. In order to write an annual audit report, the auditors have to write factual statements instead of opinionated statements to demonstrate a clear and true picture.
Here is the download button for this Free Annual Report Template created using MS Word. 1.1 Writing an Annual Report: Free Annual Report Template:įollowing is a quick preview of our Annual Report Template created using MS Word.
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