With reference to the Auditor’s Report, answer the following questions:
The recent final audit report of an FMCG carries a line which is read as … in the manner so required and respectively give a true and fair view of the state of the company’s affairs …… Briefly describe the meaning of “true and fair view”.
An external auditor is not responsible for preparing his client’s financial statement. Why?
Why do the notes annexed to the financial statements become an integral part thereof?
List down any two matters upon which an auditor is bound to give his opinion.