How Does Audit Report Differ From Research Report

Research is a way to investigate a concept, issue and phenomenon to make the solution. It is a way to add your contributions in the relevant field. Findings and new knowledge on the issue is presented in the form of the research report. A research report relies on the facts and figures to support the claim. In this way, researchers include different examples and evidences in the report. An audit report is different from the research report and is based on the opinion, financial analysis of the company and provides details of errors. It mainly focuses on the current issues and provides an expert suggestion to check the reliability and validity of the ongoing activities.

One thing is similar in both audit reports and research reports which is the emphasis on an issue and the development of a solution. There is a different format, way of investigation and presentation of new findings on a selected problem. It is important to know about the differences and similarities of the audit report and research. It helps auditors and researchers report effectively and reduce issues of reporting a phenomenon. This article is a complete guide to know about the differences between a research and audit report. It also provides the main purpose of both reports in detail.

What is the Main Purpose of Audit Report?

An audit report is a complete framework to investigate the performance and way of working of the employees. It evaluates the errors in the ongoing activities of the company and provides an opinion on the issues. The main purpose of an audit report is to develop an opinion on the financial performance of a company. It focuses to investigate the errors and make suggestions to improve them. The objective of an audit report is to analyse the current position from an expert and develops future guidelines to improve it. There are various types of audit reports based on the type of opinion. Following are the important categories of the audit reports but all have the same purpose to investigate the error and make an opinion for improvement.

• An unqualified opinion audit report indicates that all presented documents are free from error. It also evaluates that there is no issue in the ongoing activities.
• Qualified opinion audit report specifies that company audit report is positive but the firm is not able to fully meet the standards of work.
• A diverse opinion audit report specifies that the company fails to follow standards of working and find errors in documents.
• Disclaimer opinion audit report indicates that the audit is incomplete due to issues of auditors.

What is the Main Purpose of Research Report?

A research report is a written document that focuses on a specific issue and concept. Most of the times students hire dissertation proposal writing services from the best writers. The main purpose of a research report is to add knowledge in the relevant field of the study. It also provides a solution for the selected problem. It helps connect the phenomenon with relevant theory. A well-structured research report sometimes makes advancement in the people’s knowledge about a specific concept. Therefore, a research report’s scope is broader compared to the audit report. Different objectives are connected with the primary purpose in the research report. Following is the detail of these objectives of the research that make the main purpose of research and report the results in a written document.

• Provides information on a specific topic or issue.
• Provides evidence and connects the problem with its foundation/theory
• Presents findings related to the problem statement.
• Adds knowledge in the relevant field of study and increase people awareness.

What is the Difference between Audit Report and Research Report

There are various similarities and differences between research and audit reports which make them valuable in the field of business. It is impossible to investigate an issue without following a proper methodology and report format. Thus, due to the nature and scope of usability, research and audit report are different from each other. Following are some important differences between both reports:

Research Report

• It focuses on a general problem of the selected population.
• The scope of a research report is high due to its usability and feature of selecting a broader population.
• There is a set of ethical considerations to investigate an issue and report the result.
• It adds relevant knowledge and makes advancement in the field.
• It is free from personal biases and is supported by evidence and sources of information.
• A research report may involve the experiments and report the result.
• It provides new findings, results and data collection to research on a specific aim.
• It is effective for the general population to read and use for future studies.
• Research reports results are generally published in different sources of research hubs.

Audit Report

• It focuses on a company-specific issue.
• The scope of an audit report is limited to a selected company and it focuses to investigate an error.
• There are different standards of audit and standards of work to report and investigate an error.
• It provides suggestions to resolve the ongoing errors.
• It is based on the auditor's opinion and might be prejudiced.
• There is no need for experiments and it only focuses on the auditor analysis.
• It deals only with the secondary information and documents made by the company or any institute.
• The audit report is only beneficial and applicable for the selected firms and institutes.
• Results and opinions of the audit reports are personal and may not publish publically because may it affect the company’s reputation.

Conclusion

An audit report is a different document from the research report due to its format, feature and productivity. A research report has a broader scope and benefits for the public to work on a social issue. An audit report only deals with company’s issues of ongoing activities and provides an opinion, while a research report is more authentic due to the inclusion of the source of information. In this way, an audit report is based on the auditor’s professional experience which might involve prejudice. These are some most important differences that show both kinds of reports are different and have separate purposes.