Audit Opinion by statutory auditor

[Velayutham Panchatcharam]

Dear Sirs,

Please clarify, to whom the statutory auditor give audit opinion / financial statement whether to members of the company or board of directors. Pls help on this.

Regards

V.Panchatcharam

[DR.MARIAPPAN GOVINDARAJAN]

The Board of Companies and not to the members.

[sunilkumar Gupta]

Dear Professionals

I beg to differ. The Audit Report is always directed to the members of the Companies i.e. the shareholders and not to the Board of Directors. In Audit report, the audit opinion is mentioned.

[YAGAY andSUN]

However, Generally Auditors also issue Management Letter for the concerns/issues they find their Audit tenure.

AI Summary

Audit report addressed to shareholders as the auditor's formal opinion; management letters communicate findings to management or board. Statutory auditors express their audit opinion on the financial statements through the audit report, which is conventionally directed to the company's members (the shareholders). Separate communications such as a management letter convey concerns to management or the board but do not replace the audit report as the formal opinion to the members.