Overall Objectives of the Auditor

Overall Objectives of the Auditor


In conducting an audit of a financial report, the overall objectives of the auditor are:

  1. To obtain reasonable assurance about whether the financial report as a whole is free from material misstatement, whether due to fraud or error, thereby enabling the auditor to express an opinion on whether the financial report is prepared, in all material respects, in accordance with an applicable financial reporting framework; and
  2. To report on the financial report, and communicate as required by the Australian Auditing Standards, in accordance with the auditor’s findings.


In all cases when reasonable assurance cannot be obtained and a qualified opinion in the auditor’s report is insufficient in the circumstances for purposes of reporting to the intended users of the financial report, the Australian Auditing Standards require that the auditor disclaim an opinion or withdraw (or resign)[3] from the engagement, where withdrawal is possible under applicable law or regulation.


[Footnote deleted by the AUASB.]