Dec 29, 2018 15:00
5 yrs ago
Italian term

a riflettere tale circostanza nella formazione di nostro giudizio

Italian to English Bus/Financial Finance (general) Work
Same document and this part is the auditing firm here setting out its responsibilities and how it worked, what it assessed and now what it found out. I am uncertain if this means whether they should include such an instance in the report or not. Thanks. Here is the part: in presenza di una incertezza significativa, siamo tenuti a richiamare l'attenzione nella relazione di revisione sulla relativa informatica di bilancio, ovvero, qualora tale informazione sia inadeguata, a riflettere tale circostanza nella formulazione di nostro giudizio. Does it mean that isf the information is insufficient, the auditing firm should present this fact in its report?

Discussion

Josephine Cassar (asker) Jan 1, 2019:
@ mraffe The auditors only issued a 'qualified' opinion, in fact
mrrafe Dec 30, 2018:
take into account So if the client hasn't implemented the recommendation, I think the auditor does have to mention it in the final report. But Marco's translation seems true to the original in not exactly expressing the auditor's intentions.
Josephine Cassar (asker) Dec 30, 2018:
@ mrrafe Thank you for your contribution. In fact, there is a warning at the end, in the sense that the auditing company found some factors which it warned against. This part starts by an explanation of the principles governing an audit, and then the result of the audit itself-it did inform the company too about the shortcomings and also pointed out points in favour of the company-checking, payments on time
mrrafe Dec 29, 2018:
context? I wonder whether this is an audit report or only a preliminary, but formal, finding by the auditor. Before agreeing to perform an audit report, the auditor must inform the client whether there are evidentiary deficiencies that would prevent the auditor from filing a favorable report due to lack of information. The client can respond by curing the deficiencies so that the audit can proceed, or by dismissing the auditor with no report. The client's inability to enter an agreement with an auditor at this initial stage may serve as a warning to investors.

Proposed translations

+1
17 mins
Selected

...take this (element) into account when we formulate our opinion.

...siamo tenuti a [...] a riflettere tale circostanza nella formulazione di nostro giudizio.
It means that the auditors must consider the fact that the information is inadequate when they formulate their opinion.
Peer comment(s):

agree mrrafe : but see discussion
1 hr
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3 KudoZ points awarded for this answer. Comment: "Thanks, that some information is missing and that they must reflect this in their opinion"
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