The companies’ Act Cap 486 in the sixth schedule and section 147 requires that the auditor should state whether in his / her opinion the accounts:
- Give a true and fair view
- Complies with the Companies’ Act Cap 486 and other legislation
- Comply the auditing standards
The auditor is required to state these matters expressly in his/her report The auditing guidelines requires that the auditor must
- Identify those to whom the report is addressed
- Identify the financial states that the report relates
- Refer specifically to whether the financial statements have audited in accordance with the approved Auditing Standards
- Refer specifically whether in his/ her opinion, the financial statements give a true and a fair view
- Refer specifically to any matters prescribed by relevant legislation.
In some instances the auditor is required to make further statements. The circumstances under consideration here includes
- If, in the auditors opinion, proper books of accounts and records have been maintained through – out the period under study
- If, in the auditors opinion, proper returns have not been received from branches he has not visited
- If the accounts are not in agreement with the accounting records and returns
- If the auditor has not received all the information and explanation which he deems necessary for the purpose of the audit
Note that these matters are only mentioned in the report only in the circumstances that they relate
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