Explain TWO (2) conditions for the issuance of unqualified opinion on the financial statements. 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.
Explain TWO (2) conditions for the issuance of unqualified opinion on the financial statements. 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.
Auditing: A Risk Based-Approach (MindTap Course List)
11th Edition
ISBN:9781337619455
Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Chapter15: Audit Reports For Financial Statement Audits
Section: Chapter Questions
Problem 24RQSC
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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
REQUIRED:
- Explain TWO (2) conditions for the issuance of unqualified opinion on the financial statements.
- 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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