Skip to main content

Business Finance EBK HEALTHCARE FINANCE: AN INTRODUCTION

The purpose of an auditor’s opinion. Introduction Auditor can be defined an individual that is authorized to verify and review the accuracy of the company’s financial records. Auditor also makes sure that company is adhering to the tax laws and set of rules prescribed by GAAP. They usually help an organization to identify ways in which operational efficiency can be boost, highlight discrepancy in the method of accounting and protect business from fraud. Auditor opinion is in the form of letter which is enclosed with the statement of finance and certifies that the financial position, cash flow and operation of the business are fair and in accordance with set of rules provided by GAAP. The opinion of auditor is the certification which is attached with the statement of finance. Such certification is based on the scrutiny of records and procedures that are taken into consideration for preparation of financial statement. It provides opinion about existence of material misstatement if any. The opinion of auditor is presented on the report provided by the auditor. The first section of the audit report includes responsibility of audit firm and management. The second section includes financial statement. The last section details the opinion provided by auditor on the financial statement.

The purpose of an auditor’s opinion. Introduction Auditor can be defined an individual that is authorized to verify and review the accuracy of the company’s financial records. Auditor also makes sure that company is adhering to the tax laws and set of rules prescribed by GAAP. They usually help an organization to identify ways in which operational efficiency can be boost, highlight discrepancy in the method of accounting and protect business from fraud. Auditor opinion is in the form of letter which is enclosed with the statement of finance and certifies that the financial position, cash flow and operation of the business are fair and in accordance with set of rules provided by GAAP. The opinion of auditor is the certification which is attached with the statement of finance. Such certification is based on the scrutiny of records and procedures that are taken into consideration for preparation of financial statement. It provides opinion about existence of material misstatement if any. The opinion of auditor is presented on the report provided by the auditor. The first section of the audit report includes responsibility of audit firm and management. The second section includes financial statement. The last section details the opinion provided by auditor on the financial statement.

Solution Summary: The author defines an auditor as an individual authorized to verify and review the accuracy of the company's financial records. They also make sure that company is adhering to tax laws and set of rules prescribed by GAAP.

EBK HEALTHCARE FINANCE: AN INTRODUCTION

EBK HEALTHCARE FINANCE: AN INTRODUCTION

6th Edition

ISBN: 9781567937428

Author: Gapenski

Publisher: YUZU

See similar textbooks

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

Blurred answer

Chapter 3, Problem 3.3STQ

Chapter 3, Problem 3.5STQ

Students have asked these similar questions

What is the purpose of the auditors’ opinion and report?

what are the auditor's responsibilty for going concern?

What does auditors examine?

Chapter 3 Solutions

EBK HEALTHCARE FINANCE: AN INTRODUCTION

Ch. 3 - Prob. 1.1STQ Ch. 3 - Prob. 1.2STQ Ch. 3 - Prob. 2.1STQ Ch. 3 - Prob. 2.2STQ Ch. 3 - Prob. 2.3STQ Ch. 3 - Prob. 3.1STQ Ch. 3 - Prob. 3.2STQ Ch. 3 - Prob. 3.3STQ Ch. 3 - Prob. 3.4STQ Ch. 3 - Prob. 3.5STQ

Ch. 3 - Prob. 4.1STQ Ch. 3 - Prob. 4.2STQ Ch. 3 - Prob. 4.3STQ Ch. 3 - Prob. 5.1STQ Ch. 3 - Prob. 5.2STQ Ch. 3 - Prob. 5.3STQ Ch. 3 - Prob. 6.1STQ Ch. 3 - Prob. 6.2STQ Ch. 3 - Prob. 7.1STQ Ch. 3 - Prob. 7.2STQ Ch. 3 - Prob. 7.3STQ Ch. 3 - Prob. 8.1STQ Ch. 3 - Prob. 8.2STQ Ch. 3 - Prob. 8.3STQ Ch. 3 - Prob. 8.4STQ Ch. 3 - Prob. 9.1STQ Ch. 3 - Prob. 9.2STQ Ch. 3 - Prob. 9.3STQ Ch. 3 - Prob. 10.1STQ Ch. 3 - Prob. 10.2STQ Ch. 3 - Prob. 11.1STQ Ch. 3 - Prob. 11.2STQ Ch. 3 - Prob. 12.1STQ Ch. 3 - Prob. 12.2STQ Ch. 3 - Prob. 12.3STQ Ch. 3 - Prob. 13.1STQ Ch. 3 - Prob. 13.2STQ Ch. 3 - Prob. 13.3STQ Ch. 3 - Prob. 13.4STQ Ch. 3 - Prob. 14.1STQ Ch. 3 - Prob. 14.2STQ Ch. 3 - Prob. 14.3STQ Ch. 3 - Prob. 15.1STQ Ch. 3 - Prob. 15.2STQ Ch. 3 - Prob. 16.1STQ Ch. 3 - Prob. 16.2STQ Ch. 3 - Prob. 3.1Q Ch. 3 - Prob. 3.2Q Ch. 3 - Prob. 3.3Q Ch. 3 - Prob. 3.4Q Ch. 3 - Prob. 3.5Q Ch. 3 - Prob. 3.6Q Ch. 3 - Prob. 3.7Q Ch. 3 - Prob. 3.8Q Ch. 3 - Prob. 3.9Q Ch. 3 - Prob. 3.1P Ch. 3 - Prob. 3.2P Ch. 3 - Prob. 3.3P Ch. 3 - Prob. 3.4P Ch. 3 - Prob. 3.5P Ch. 3 - Prob. 3.6P Ch. 3 - Prob. 3.7P Ch. 3 - Prob. 3.8P Ch. 3 - Prob. 3.9P

Knowledge Booster

Background pattern image

Similar questions

SEE MORE QUESTIONS

Recommended textbooks for you

Auditing: A Risk Based-Approach (MindTap Course L...
Accounting
ISBN:9781337619455
Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:Cengage Learning
Accounting Information Systems
Accounting
ISBN:9781337619202
Author:Hall, James A.
Publisher:Cengage Learning,
Contemporary Auditing
Accounting
ISBN:9781337650380
Author:KNAPP
Publisher:Cengage
Auditing: A Risk Based-Approach to Conducting a Q...
Accounting
ISBN:9781305080577
Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:South-Western College Pub

Text book image

Auditing: A Risk Based-Approach (MindTap Course L...

Accounting

ISBN:9781337619455

Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Publisher:Cengage Learning

Text book image

Accounting Information Systems

Accounting

ISBN:9781337619202

Author:Hall, James A.

Publisher:Cengage Learning,

Text book image

Contemporary Auditing

Accounting

ISBN:9781337650380

Author:KNAPP

Publisher:Cengage

Text book image

Auditing: A Risk Based-Approach to Conducting a Q...

Accounting

ISBN:9781305080577

Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Publisher:South-Western College Pub

SEE MORE TEXTBOOKS