Audit Opinion

Attest Function
An attest function is performed by a qualified auditor who provides an audit opinion on the truth and fairness of the financial statements of an organization.
Audit Evidence
Audit evidence encompasses the information and data collected by auditors to form an audit opinion on the financial statements of an enterprise. This evidence is derived from a variety of sources and through different methodologies to ensure the accuracy and reliability of the financial statements.
Audit Opinion
An audit opinion is an expression provided by auditors within an auditors' report, stating whether the financial statements have been prepared consistently using appropriate accounting policies and standards, and if there is adequate disclosure of vital information.
Limitation of Scope
Limitation of scope refers to restrictions or constraints that may prevent auditors from obtaining sufficient and appropriate evidence to form an audit opinion. This can significantly impact the reliability and comprehensiveness of the audit report.
Primary Auditor
The primary auditor is the main auditor responsible for the audit opinion on a holding company's consolidated financial statements.
Reporting Partner
The reporting partner in an audit firm is responsible for forming an audit opinion on the financial statements of a client company. This role includes signing and dating the auditors' report after the board of directors formally approves the financial statements.

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