SA 700 basic elements – 1. Title Notes not in the notes

1 answer

Ravi Staff April 22, 2017

Please jot  down key points  from below
1.Title-
A title indicating the report is the report of an independent auditor, for example,
“Independent Auditor’s Report”, affirms that the auditor has met all of the relevant ethical
requirements regarding independence and, therefore, distinguishes the independent
auditor’s report from reports issued by others.

2. Addressee-
The law or regulation applicable to the entity often specifies to whom the auditor’s report is
to be addressed. The auditor’s report is normally addressed to those for whom the report is
prepared, often either to the shareholders or to those charged with governance.
(In INDIA Sec 143 of Co Act says it should be addressed to Shareholders

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