<P> The auditor 's report on the financial statements typically provides very limited details on the procedures and findings of the audit . In contrast , auditors provide much more detail to the board of directors or to the audit committee of the board . Beginning in 2002 , many countries have tasked the audit committee with primary responsibility over the audit . For example , in the United States , section 204 of the Sarbanes - Oxley Act passed in 2002 required auditors to communicate certain information to audit committees , which were required to be entirely independent , and also made the audit committee responsible for the auditor 's hiring . In August 2012 , the U.S. Public Company Accounting Oversight Board finalized Auditing Standard No. 16 , which requires additional communications to the audit committee . </P>
<P> The auditor 's report on the financial statements typically provides very limited details on the procedures and findings of the audit . In contrast , auditors provide much more detail to the board of directors or to the audit committee of the board . Beginning in 2002 , many countries have tasked the audit committee with primary responsibility over the audit . For example , in the United States , section 204 of the Sarbanes - Oxley Act passed in 2002 required auditors to communicate certain information to audit committees , which were required to be entirely independent , and also made the audit committee responsible for the auditor 's hiring . In August 2012 , the U.S. Public Company Accounting Oversight Board finalized Auditing Standard No. 16 , which requires additional communications to the audit committee . </P>
who should an audit report be addressed to
who should an audit report be addressed to
the audit committee of the board
the audit committee of the board