## SA 700 – Formal Elements of the Auditor's Report

### Other Reporting Responsibilities

When the auditor has reporting responsibilities beyond those required by SAs (e.g., under company law), these must appear in a separate section headed "Report on Other Legal and Regulatory Requirements" — unless they address the same topics as the SA-required elements, in which case they may be merged into the same section.

### Signature

Signed by the engagement partner in their personal name.
Where a firm is appointed, the report is signed both in the partner's personal name and in the firm's name.
The signing partner/proprietor must state their ICAI Membership Number.

### Place

The report shall name the specific city where it is signed.

### Date

The report shall be dated no earlier than the date on which the auditor obtained sufficient appropriate audit evidence (SAAE) on which to base the opinion.

### UDIN (Unique Document Identification Number)

The auditor must mention the UDIN alongside their membership number for every audit report signed.

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### Comparison of Opinion Language Across Report Types

Element	Unmodified	Qualified	Adverse	Disclaimer
1st line (Opinion para)	We have audited	We have audited	We have audited	We were engaged to audit
2nd line	Which comprises the balance sheet at March 31st 20XX, and the P&L A/c, (and statement of cash flows) for the year ended, and notes to the FS, including a summary of significant accounting policies. (identical across all four)
3rd line	In our opinion and to the best of our information and according to the explanations given to us, (identical across all four)
4th line (key difference)	Gives true and fair view of the financial position	Except for the effects/possible effects of the matter described in the Basis for Qualified Opinion para, the FS are true and fair	Because of the significance of the matters in the Basis for Adverse Opinion para, the FS are not true and fair	Because of the significance of the matters in the Basis for Disclaimer of Opinion para, the auditor does not express an opinion on the FS
Basis para last line	We believe the audit evidence obtained is sufficient and appropriate to provide a basis for our opinion	… basis for our qualified opinion	… basis for our adverse opinion	Because of the matters described … we were not able to obtain SAAE to provide a basis for our opinion

Worked example

### Example 1

Example 1 – Signature requirement: ABC & Co. LLP is appointed as statutory auditor of XYZ Ltd. CA Ramesh (partner, M.No. 123456) signs the report. The report must carry: (a) CA Ramesh's personal name, (b) ABC & Co. LLP's firm name, (c) membership number 123456, and (d) the UDIN generated for this specific report.

### Example 2

Example 2 – Date of report: Fieldwork ends on 10 April 20X5. Management provides an additional representation letter on 12 April 20X5, completing the auditor's evidence. The audit report must be dated 12 April 20X5 or later — not 10 April 20X5.

### Example 3

Example 3 – Other Reporting Responsibilities: Under Section 143(3) of the Companies Act, 2013, an auditor must report on internal financial controls. This is a legal requirement beyond SAs. It must be placed under a separate section titled 'Report on Other Legal and Regulatory Requirements'. If it addresses a matter already covered in the SA-required section, both may be combined in one section.

⚠️ Common exam mistakes

Dating the audit report as of the last day of fieldwork rather than the date SAAE was completed (e.g., date management signed representations).
Omitting the firm name when a firm is appointed — the report must carry both the partner's personal name AND the firm name.
Forgetting to mention the UDIN or membership number on the audit report.
Placing the 'Report on Other Legal and Regulatory Requirements' in the same section as SA-required elements when the topics differ — they must be separate sections.
Using 'We were engaged to audit' (Disclaimer language) in an unmodified report, or 'We have audited' in a Disclaimer report.

Reference:

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SA 700 – Auditor's Report: Formal Elements (Signature, Date, Place, UDIN, Opinion Language)

Worked example

⚠️ Common exam mistakes