Category Archive for: Forming An Opinion And Reporting On Financial Statements

QUESTIONS AND ANSWERS

The auditor is required to issue an audit report at the end of the audit, which sets out his opinion on the financial statements. An important element of the audit report is the statement of auditor’s responsibility. The statement of responsibility should state the following: (i) It is the responsibility of the auditor to express…

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NOTES

Where applicable. ‘I Where there is no change in the accounting policy (ies) the portion “except for the changes as stated in note(s) with which we concur” way be omitted. ‘2 Where no Zakat is deductible, substitute “no Zakat was deductible at source under the Zakat and Ushr Ordinance, 1980. Where any of the matter referred to in…

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AUDITORS’ REPORT TO THE CERTICFICATE HOLDERS OF MODARABA

Enclosed please fine an extract from S.R.O. 471(1)2003 dated June 5, 2003 regarding substitution of existing Form No. XI in the First Schedule to the Modaraba Companies and Modaraba Rules, 1981 relating to Auditors’ Report to the Certificate Holders with the revised one as giventherein. The new format is  applicable with immediate effect. For the explanation of the words…

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AUDITORS’ REPORT TO THE CERTICICATE HOLDERS

We have audited the annexed balance sheet of . Modaraba as at ‘ and the related profit and loss account, cash flow statement and statement of changes in equity together with the notes forming part thereof (hereinafter referred to as the financial statements), for the year then ended and we state that we have obtained all the information and explanations…

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FORM OF AUDITOR’S REPORT ON CONSOLIDATED FINANCIAL STATEMENTS

AUDITOR’S REPORT TO THE BOARD OF DIRECTIORS We have examined the annexed consolidated financial statements comprising consolidated balance sheet of ——- Limited and its subsidiary companies as at ————– and the related consolidated profit and loss· account and consolidated cash flow statement together with the notes forming part thereof. for the year end ———— we have also expressed separate opinions and…

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NOTES

Where applicable —- * 1 Substitute “income and expenditure account”. *2 Substitute “Sources and application offunds”. *3 Where there is no change in the accounting policy (ies) the portion “except for the changes as stated in note (s) with which we concur” may be omitted. . *4 Substitute “surplus or deficit”. *5 Substitute “changes in source and…

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THE COMPANIES ORDINANCE, 1984 SEE SECTION 255 (3) AND RULE 17A] AUDITORS’ REPORT TO THE MEMBERS

We have audited the annexed balance sheet of as at ………………. and the related * 1 profit and loss account, *2 cash flow statement and statement of changes in equity together with the notes forming part thereof, for the then ended and we state that we have obtained all the information and explanations which, to the best of our knowledge…

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BASIC ELEMENTS OF THE AUDITOR’S REPORT

(a)  Title (b)  Addressee (c)  Opening introductory paragraph, and (i) identification of the financial Statement (ii) A statement of the responsibility of the auditor and the management (d)  Scope paragraph Auditor’s Report The members of XYZ Co. We have audited the accompanying balance sheet of the XYZ company as of December 31, 20×7, and the related profit and…

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