Being the matter of professional judgment of auditor's report, audit practices have been a debatable issue in accounting and auditing world and efforts have been made to establish the uniformity in determination true and fait view of company affairs but being it subjective in nature, there will always be a possibility of diversity in viewpoints of auditors and public perceptions. Present study aims at finding the same i.e. whether different auditors and public particularly small investors have the similar considerations over view of truth and fairness of company's financial statements. Study is based on primary data collected through questionnaire and data has been analyzed using descriptive statistics i.e. mean and standard deviation, further hypotheses have been tested by t-test to generalize and validate the conclusion of study. Study reveals that there is significant difference between auditors’ opinion and its interpretation by public.
Materiality, Public, Auditor, Companies
