The following illustrative independent auditor’s report template is intended to assist not-for-profit financial statement auditors. Auditors should exercise professional judgment in any situation not specifically addressed in the illustrative report provided. This sample report has been updated to reflect reporting standards established by AICPA Statement on Auditing Standards Nos. 134 through 140.
Generally Accepted Auditing Standards (GAAS) require certain elements be present in an auditor’s report on an entity’s financial statements that are prepared in conformity with GAAP. These requirements are provided in AICPA Professional Standards. Refer to the AICPA Audit and Accounting Guide for Not-for-Profit Entities for additional information and examples.