Aspects Regarding the Quality of Statutory Audit Reports.
Statutory audit reports need to comply with certain for mrel ated
requirements under the professional standards,
in terms of the components of the audit report, their titles
and content, their order or the expression of the opinion.
Their aim is for the subject-matter aspects identified by
the auditor to be disclosed in the report, according to
consistent unified professional practices. Thus, the users
of financial statements and, implicitly, of audit reports
can benefit from comparable, comprehensible and
coherent information.
The goal of this study was to bring to light the degree in
which audit reports prepared by listed public interest
entities auditors observe the requirements in the
applicable professional standards and the way in which
these reports demonstrate the adequate use of
professional concepts and terminology.
Author’s findings used as a reference the provisions
about the title of the audit report, its
addressee/addressees, the introductory paragraph,
management’s responsibility, auditor’s responsibility, the
expression of the opinion, references to other legal
requirements.
The author highlighted a series of aspects showing that
professional requirements are not always observed and
that professional vocabulary is not rigorously used.