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Auditing & Assurance › Audit Report & Opinions

What does the Basis for Opinion section contain?

Intermediate

Answer

The Basis for Opinion section states that the audit was conducted in accordance with ISAs, refers to the section describing the auditor's responsibilities, declares that the auditor is independent and has fulfilled ethical responsibilities, and states that the evidence obtained is sufficient and appropriate to provide a basis for the opinion. For modified opinions, it also describes the matter giving rise to the modification.
Real-world example The Basis for Opinion confirms ISA compliance and independence, and, when modified, explains the reason for the qualification.

Common follow-ups: What does this section affirm about independence? | How does it change for a modified opinion?

Ethics & Independence ISA Standards Audit Report & Opinions
All 19 Audit Report & Opinions questions