The primary objective and defining output of a financial statement audit is the expression of an auditor's opinion. This formal opinion concludes whether the financial statements are presented fairly, in all material respects, in accordance with an applicable financial reporting framework (e.g., GAAP). While an opinion can be issued for certain high-level compliance audits (i.e., examination-level attestation engagements), it is the quintessential and universal purpose of a financial statement audit. Other audit types, such as performance or forensic audits, result in reports with findings, conclusions, and recommendations rather than a formal opinion on a subject matter against established criteria.

A. performance audits: These audits result in reports with findings, conclusions, and recommendations about program effectiveness and operational efficiency, not a formal opinion.

B. compliance audits: While an opinion can be issued for an examination-level compliance audit, it is not the only possible output, unlike for financial statement audits.

D. forensic audits: These produce investigative reports detailing factual findings for potential legal proceedings, not a professional opinion on the fairness of presentation.

1. U.S. Government Accountability Office (GAO). (2018). Government Auditing Standards (GAO-18-568G, "Yellow Book"). Chapter 4, Section 4.03 states, "The primary purpose of a financial audit is to provide financial statement users with an opinion by the auditor on whether the financial statements are presented fairly..."

2. American Institute of Certified Public Accountants (AICPA). (2021). AU-C Section 700: Forming an Opinion and Reporting on Financial Statements. Paragraph .07 explicitly outlines the auditor's objectives, which culminate in forming and expressing an opinion in a written report.

3. Watkins, A. L., & Jones, J. (n.d.). ACC 550: Auditing and Assurance Services [Course Syllabus and Materials]. Stanford University Graduate School of Business. The course materials for Module 1, "An Overview of Auditing," define the primary output of a financial statement audit as the auditor's opinion.