Question

Consider the following given phrase that is not included in the opinion paragraph of the
standard (unqualified) auditor’s report:
“The financial statements present correctly, the financial position of ABC Company as at
December 31, 2019, and its financial performance and its cash flows for the year then ended in
accordance with Canadian generally accepted auditing standards.”
i. What is the correct phrase that is included in the opinion paragraph of the standard
(unqualified) auditor’s report?
ii. Briefly explain why the given phrase is a poor replacement for the correct phrase

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