Difference between Audit Report and Audit Certificate

There are some basic distinctions / difference between audit report and audit certificate and all of them are mention in detail below:

Difference between audit report and audit certificate

Points Auditor’s report Auditor’s certificate
1. Nature It is an expression of opinion about the account. It is a confirmation of correctness and accuracy about some matters.
2. Basis of audit The report is based on assumptions and estimations The certificate is based on actual figures and facts.
3. Criticism There may be criticism about the report. There is no scope of criticism about the certificate.
4. Scope The scope of the report is large. Its scope is limited.
5. Scope of In the scope, there is a scope of giving constructive advice to the company. No scope of constructive advice exists in the case of certificate.
6. Time of issue After the end of each accounting, the year report is mandatory. Certificate is not mandatory in every year.
7. Liability of auditor As a report is merely an opinion, if it is not correct, the auditor may not be held responsible. In case of the wrong certificate, the auditor will be held responsible.
Difference between audit report and audit certificate
Difference between audit report and audit certificate

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3 thoughts on “Difference between Audit Report and Audit Certificate”

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