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

Debate: Should Statutory Auditor's Report Address Company Members or Board? Insights on Audit Opinions and Management Letters. A participant in a discussion forum inquired about whether a statutory auditor's audit opinion or financial statement should be directed to the company's members or the board of directors. One respondent stated it is directed to the board, while another disagreed, asserting that the audit report is always addressed to the company's members, specifically the shareholders. A third response noted that auditors often issue a management letter to address concerns or issues discovered during the audit.