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Audit

lakshmi (article assistant) (24 Points)

19 December 2014

how many type of audit reports are there?

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QLI Coaching for CA CS (www.qli.co.in) (539 Points)
Replied 24 December 2014

Dear Lakshmi,

Primarily, there are 2 types of audits which are conducted in India statutorily i.e. Tax Audits as per the requirement of the Income Tax Act 1961 and the Company Audit as required by the Companies Act, 2013. Further Internal audits may also be conducted as per the requirement of the applicable laws or as per the requirement of the management of the organization as the case may be. Based on the audit conducted by the auditor, the following types of opinions may be provided by the Auditor:

1. Unqualified Opinion

2. Qualified Opinion

3. Disclaimer of Opinion

4. Adverse Opinion

All the Best,

Regards,

QLI Success Oriented Coaching for CA and CS

www.qli.co.in

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