What does an auditor's report express?

An auditor's report primarily expresses the auditor's assessment of the fairness in the presentation of financial statements. This involves evaluating whether the financial statements are free from material misstatement and accurately reflect the organization's financial position and performance according to established accounting principles, such as GAAP or IFRS.

The key aspect of the auditor's report is its focus on providing assurance to stakeholders—such as investors, creditors, and regulatory bodies—about the integrity and reliability of the financial information presented. This assessment encompasses an evaluation of the accounting practices and internal controls in place, but it does not delve into operational efficiency or make specific recommendations for improvement, as those aspects extend beyond the primary function of an auditor. Instead, the report aims to instill confidence in users of the financial statements regarding their accuracy and compliance with accounting standards.