An auditor is an independently qualified person who is appointed to give shareholders an

independent, professional and informed opinion on the financial statements prepared by the
directors. An audit can also be of benefit to third parties wishing to engage in business with
the company as it helps to assess the reliability of the information provided.

Provide An Audit Report

The main responsibility of an auditor is to report to the members. The report must state
whether, in the opinion of the auditor, the documents give a true and fair view of the state of
the company’s quality and whether they have been prepared in accordance with relevant
provisions of the Companies Acts and other relevant legislation and standards.

The auditors’ report must be made available to every member.

If the auditor cannot give a positive opinion, they may give:

 A qualified opinion – this states that the documents gave a true and fair view of
the company’s state of quality except for certain stated circumstances;

 A disclaimer of opinion– this states that the auditor is unable to form an opinion
as they were unable to gather a sufficient amount of competent evidence; and

 An adverse opinion – this states that the documents do not give a true and fair
view.

Report Failure to Maintain Proper documents

If an auditor discovers that a company has not kept proper records of documents, they must
notify the company of this opinion. If the directors do not take the necessary steps to correct
this situation within seven days, auditors must notify the Companies Registration Office of
their opinion.

Duty To Report Indictable Offences

If auditors discover information during an audit that leads them to believe that the company
or anyone associated with it has committed an indictable offence under the Companies Acts,
they must report this to the Office of the Director of Corporate Enforcement (“ODCE”) and
help the ODCE with their investigation of the report.

Duty To Exercise Professional Integrity

Auditors must carry out an audit with professional integrity. If they do not comply with their
duty to exercise reasonable skill and care, they may be liable for damages to the company or
to its members in particular. The independent auditor also has a responsibility to his
profession to comply with the standards accepted by his fellow practitioners.

Auditors’ Responsibilities
The auditor’s responsibility is to express an opinion on whether management has fairly
presented the information in the view of companys development in maintaining quality. To
do so, the auditor collects evidence to obtain reasonable assurance.