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

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.