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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.

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.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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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