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

PointsAuditor’s ReportAuditor’s Certificate
1. NatureIt is an expression of opinion about the account.It is a confirmation of correctness and accuracy about some matters.
2. Basis of auditThe report is based on assumptions and estimationsThe certificate is based on actual figures and facts.
3. CriticismThere may be criticism about the report.There is no scope of criticism about the certificate.
4. ScopeThe scope of the report is large.Its scope is limited.
5. Scope ofIn 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 issueAfter the end of each accounting, the year report is mandatory.The certificate is not mandatory every year.
7. Liability of auditorAs 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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