Answered: Describe THREE (3) situations that…

Contemporary Auditing

11th Edition

ISBN:9781337650380

Author:KNAPP

Publisher:KNAPP

Chapter2: Audits Of High-risk Accounts

Section2.2: Golden Bear Golf, Inc.

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Audit working papers are an integral part of an examination in accordance with international standards on auditing. These documents are very important and need to be well taken care of in the auditing process. Upon completing an audit process, the auditors should issue an opinion on the client’s financial statements.

REQUIRED:

Describe THREE (3) situations that require the auditor to modify their standard report and still issue an unqualified opinion.

Explain the purpose of key audit matters in the auditor’s report and how it should be described.

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