Audit reports provide the reader assurance that a set of facts is true in the opinion of the auditor. The report identifies the facts audited for the reader. These facts may be presented as financial statements, a summary of compliance with related laws, a statement of economical and/or efficient operation, a statement of good management practices followed by an entity or other matters an auditor considers relevant.
The reader should look for the auditors' assurance in the form of a formal Independent Auditor's Report or as narrative.
The reader should note the assurance is restricted by a statement of audit objective(s) or scope of the auditor's work performed and the method(s) used by the auditor.
If the auditor believes there is needed change, the reader will find the auditor's remedy or recommendation supported by a description of the current condition, description of criteria to measure the condition by, the entity's explanation or reason (cause) for the condition, and the effect (dollar or other impact) of the condition.
Other material included in a report is designed to improve the readers understanding. This includes things such as background sections.