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2020•International Journal of Sciences: Basic and Applied ResearchOpen access

The Importance of Auditor’s Report

Vera Karadjova, Slavica Blazheva, Pece Nikolovski, Katerina Mircheska, Maja Malakovska

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Abstract

Companies and their business operations represent an important segment of the economic system of a country and they could have a significant impact on its further economic growth. Therefore, these companies should have a stable financial structure and be a model of high-quality financial reporting, or else they could greatly impede smooth functioning of other stakeholders on the market. With respect to that, the auditor is expected to provide going concern assessment in his/ her report in order to timely alert any red flags related to this issue. The purpose of this paper is to analyse the solvency level and its impact on the type of auditor’s opinion. The awareness of association between auditor switching and the audit opinion is essential when legislation regarding mandatory audit practice is being done.

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What this paper is about

Companies and their business operations represent an important segment of the economic system of a country and they could have a significant impact on its further economic growth. Therefore, these companies should have a stable financial structure and be a model of high-quality financial reporting, or else they could greatly impede smooth functioning of other stakeholders on the market. With respect to that, the auditor is expected to provide going concern assessment in his/ her report in order to timely alert any red flags related to this issue. The purpose of this paper is to analyse the solvency level and its impact on the type of auditor’s opinion. The awareness of association between auditor switching and the audit opinion is essential when legislation regarding mandatory audit practice is being done.

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Available abstract

Companies and their business operations represent an important segment of the economic system of a country and they could have a significant impact on its further economic growth. Therefore, these companies should have a stable financial structure and be a model of high-quality financial reporting, or else they could greatly impede smooth functioning of other stakeholders on the market. With respect to that, the auditor is expected to provide going concern assessment in his/ her report in order to timely alert any red flags related to this issue. The purpose of this paper is to analyse the solvency level and its impact on the type of auditor’s opinion. The awareness of association between auditor switching and the audit opinion is essential when legislation regarding mandatory audit practice is being done.

Key concepts: Audit, Accounting, Auditor's report, Business, Solvency, Legislation, Auditor independence, Order (exchange)

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