Final answer:
The auditor's report provides an unbiased opinion on the fairness of a company's financial statements, commonly presenting an unqualified opinion if the statements are fair. It does not include detailed coverage of operational results or liquidity, as these aspects are part of the financial statements themselves.
Step-by-step explanation:
The auditor's report typically contains an opinion as to the fairness of the financial statements, which reflects whether the financial statements are presented by the applicable financial reporting framework, usually GAAP or IFRS. This can be an unqualified opinion, a qualified opinion, an adverse opinion, or a disclaimer of opinion. The audit report does not include detailed coverage of the firm's liquidity, capital resources, and operations or the results of operations as these are contained within the financial statements themselves. Instead, it provides an independent assessment of the accuracy and fair presentation of those financial reports. Critical thinking is crucial when reviewing an audit report to understand the auditor's opinion and any potential biases or limitations in their assessment.