Audit opinion

Roles that need it

• External Audit Associate
• External Audit (Financial Services)
• Group Reporting Accountant
• Investor Relations Analyst

Skills it belongs to

• Audit methodology
• International accounting standards (IFRS)

Related concepts

• External audit (statutory audit)An external audit is an independent examination of an entity's financial statements by a registered statutory auditor, ending in an audit opinion. EU law sets auditor independence, rotation for public-interest entities such as banks and insurers, and the content of the audit report.
• Materiality (audit and reporting)Information is material if omitting or misstating it could reasonably influence the decisions of users of the financial statements. Auditors set an overall materiality, often a percentage of profit before tax, revenue or equity, and a lower performance materiality for testing.
• Statutory accounts (annual financial statements)Statutory accounts are the annual financial statements an entity must prepare and file under company law, under local GAAP or IFRS. In the EU, listed groups use IFRS for consolidated accounts under the IAS Regulation, and the Accounting Directive sets the content for local accounts.

Sources

• Directive 2006/43/EC on statutory audits, EUR-Lex (external site) accessed 31 Oct 2026
• Regulation (EU) No 537/2014 on statutory audit of public-interest entities, EUR-Lex (external site) accessed 31 Oct 2026

Updated 31 Oct 2026.