In an attempt to analysis the importance attached to auditing as a tool for certifying the financial statement of business enterprise, the researcher had to be very briefly re-cap the origin of auditing and above all those factors that in the first instance necessitated it. Auditing, it was noted became very prominent in the business cycle the world over precisely in the 17th century following the inception of company form of business. The birth of this form of business arrangement allowed for the severance of this severances the need for accountability arose, and auditing has to be employed to give credibility to such stewardship reports.
Furthermore, the concept of auditing was defined and subsequently classified under two board groups namely according to the nature of work. Also, audit objectives were identified and analysed into primary and secondary objectives respectively. More so, light was shed on elements and content of every audit report, type of audit reports and opinion as well as the meaning significance and those factors.