A section of an annual report that includes the auditor's opinion about the veracity of the financial statements. Bloomberg Financial Dictionary
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All companies above a certain size are required to have their financial statements audited ( i.e. checked for truth and fairness) by a registered auditor. The auditor prepares a report which is attached to the financial statements stating his opinion as to whether or not the financial statements give a true and fair view of the company's results and financial position. Dresdner Kleinwort Wasserstein financial glossary
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auditor's report UK US noun [C] (also audit report) ACCOUNTING
► a formal document that states an auditor's judgment of a company's accounts: »
According to an independent audit report, their accounting system is deeply flawed.
Financial and business terms. 2012.