What should be included along with the opinion in financial statements?

The inclusion of a disclosure paragraph about internal control examinations alongside the audit opinion enhances the transparency and credibility of the financial statements. This paragraph typically provides information regarding the auditor's assessment of the effectiveness of the company's internal control over financial reporting. It helps users of the financial statements understand the context and limitations of the audit, as well as any significant deficiencies or material weaknesses in internal controls identified during the audit process.

This disclosure is particularly important as it can have a direct impact on the reliability of the financial statements. It informs stakeholders that the auditor has not only examined the financial statements but has also considered the controls that govern the financial reporting process.

In contrast, a list of personnel involved in the audit does not add value to the financial statements and may unnecessarily clutter the report. A summary of the auditing standards used is generally not required, as the standards themselves are well established and understood. Lastly, while comparing financial results with prior years can provide useful context, it is typically not included in the audit report itself but may be discussed in the management discussion and analysis section of the financial statements.