There are some basic distinctions/difference between audit report and audit certificate and all of them are mentioned 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 the certificate. |
| 6. Time of issue | After the end of each accounting, the year report is mandatory. | The certificate is not mandatory 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. |
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