The explanatory foreword to the International Standards on Auditing (ISA) describes audit as the independent examination of and expression of an opinion on the financial statements of an enterprise by an appointed auditor in pursuance of that appointment and in compliance with any relevant statutory obligation.
The objective of an audit is to enable auditors to express an opinion whether the financial status give a true and fair view and have been properly prepared in accordance with the relevant statutory requirements.
NB: – The auditor does not certify the financial status but reports that in his opinion they give a true and fair view.
Share through