What is necessary for the auditor to assemble regarding the opinion they are providing?

The necessity for auditors to assemble supportive and sufficient evidence is fundamental to the audit process. This evidence forms the foundation of the auditor's opinion regarding the financial statements and whether they present a true and fair view of the entity's financial position and performance.

Supportive and sufficient evidence includes all necessary documentation and information gathered during the audit, such as confirmations, recalculations, observations, and analytical procedures. The aim is to provide a basis for the auditor's conclusions and to ensure that their opinion is credible and defensible. Sufficient evidence means that the quantity and quality of the evidence are adequate to address the audit objectives, while supportive evidence refers to the relevance and reliability of that information.

Building on this, while comprehensive reports of all audit engagements might be necessary for a variety of administrative or managerial purposes, they are not a specific requirement for forming the opinion in a given audit. Similarly, while confidentiality agreements protect sensitive information, they do not directly relate to the evidence required for audit opinions. Documented agreements with external stakeholders, like management or third parties, can be important for clarity in engagements, but they are not essential for the auditor's assembly of evidence necessary to form an opinion on the financial statements.