Date and signature of the auditor’s report
The auditor should not express an opinion on financial statements until those financial statements and other financial information contained in a report of which the audited financial statements form part, have been approved by the directors and the auditor have considered all necessary available evidence.
The date of an auditor’s report on a client’s financial statements is the date on which the auditor signed the report expressing an opinion on those statements.
The auditor should sign the audit report after completion of all procedures necessary to form an opinion on the financial statements including a review of post balance sheet events.
Example of an unqualified audit report
Deloitte and Touche
Kenilworth Gardens
1 Kenilworth Road
Highlands
Harare
Report of the Independent Auditors
To the members of Africa Banking Corporation Limited
We have audited the accompanying balance sheet, income statement, and cash flow statements of Africa Banking Corporation Limited as of 31 December 2005. These financial statements are the responsibility of the company’s management. Our responsibility is to express an opinion on these financial statements based on our audit.
We conducted our audit in accordance with International Standards on Auditing. Those standards require that we plan and perform the audit to obtain reasonable assurance whether the financial statements are free from material misstatements. An audit includes examining on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management as well as evaluating the overall financial statement presentation.
In our opinion, the financial statements give a true and fair view of the financial position of the company as at 31 December 2005 and of the results of its operations and its cash flows for the year then ended and comply with the Banking Act.
Deloitte and Touche
28 February 2006