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Consider the following statements: I. For an audit of a non-public company a issue involving information in the “Management         Discussion and Analysis section of the company’s annual report would be addressed in an         Other Matter paragraph. II. The new PCAOB audit report includes a section involving Key Audit Matters. I is true;   II is true I is true;   II is false I is false;  II is true I is false;  II is false

Consider the following statements: I. For an audit of a non-public company a issue involving information in the “Management         Discussion and Analysis section of the company’s annual report would be addressed in an         Other Matter paragraph. II. The new PCAOB audit report includes a section involving Key Audit Matters. I is true;   II is true I is true;   II is false I is false;  II is true I is false;  II is false

Financial Accounting: The Impact on Decision Makers
Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter1: Accounting As A Form Of Communication
Section: Chapter Questions
Problem 1.7DC
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Consider the following statements:

I. For an audit of a non-public company a issue involving information in the “Management

        Discussion and Analysis section of the company’s annual report would be addressed in an

        Other Matter paragraph.

II. The new PCAOB audit report includes a section involving Key Audit Matters.

  1. I is true;   II is true
  2. I is true;   II is false
  3. I is false;  II is true
  4. I is false;  II is false
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