Identify and then correct the errors in this extract:

The overall objectives of an audit of financial report are:

(a) To obtain absolute assurance about whether the financial report in whole or part is free from material misstatement due to fraud. This will enable the auditor to express an opinion on whether the financial report is prepared in accordance with generally accepted accounting principles; and

(b) To report on the financial report, and report as required by the Australian Securities and Investment Commission, in accordance with the auditors findings . (6 marks)