endurskoðunaráliti

Endurskoðunarálit is the Icelandic term for an auditor's report. This is a formal opinion provided by an independent auditor regarding the fairness of financial statements presented by a company or organization. The auditor examines the accounting records, internal controls, and supporting documents to determine if the financial statements accurately reflect the company's financial position, results of operations, and cash flows.

There are typically several types of auditor's opinions. An unqualified opinion, also known as a clean opinion, is the most common and indicates that the financial statements are presented fairly in all material respects, in accordance with generally accepted accounting principles. A qualified opinion is issued when the auditor finds a material misstatement or a scope limitation, but the issue is not pervasive enough to warrant an adverse opinion. A disclaimer of opinion means the auditor was unable to obtain sufficient appropriate audit evidence to form an opinion. An adverse opinion is the most severe, stating that the financial statements are not presented fairly and are materially misstated.

The endurskoðunarálit is a crucial document for stakeholders, including investors, creditors, and regulatory bodies, as it provides an independent assessment of the reliability of financial information. It helps build trust and confidence in the financial reporting of an entity. The auditor's report is typically included as part of the annual financial statements of a company.