When asked to perform an audit to express an opinion on one or more specified elements,accounts, or items of a financial statement, the auditor(1) may not describe auditing procedures applied.(2) should advise the client that the opinion can be issued only if the financial statements have been audited and found to be fairly presented.(3) may assume that the first standard of reporting with respect to GAAP does not apply.(4) should comply with the request only if they constitute a major portion of the financialstatements on which an auditor has disclaimed an opinion based on an audit.
When asked to perform an audit to express an opinion on one or more specified elements,accounts, or items of a financial statement, the auditor(1) may not describe auditing procedures applied.(2) should advise the client that the opinion can be issued only if the financial statements have been audited and found to be fairly presented.(3) may assume that the first standard of reporting with respect to GAAP does not apply.(4) should comply with the request only if they constitute a major portion of the financialstatements on which an auditor has disclaimed an opinion based on an audit.
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 4CYBK
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Question
When asked to perform an audit to express an opinion on one or more specified elements,
accounts, or items of a financial statement, the auditor
(1) may not describe
(2) should advise the client that the opinion can be issued only if the financial statements have been audited and found to be fairly presented.
(3) may assume that the first standard of reporting with respect to GAAP does not apply.
(4) should comply with the request only if they constitute a major portion of the financial
statements on which an auditor has disclaimed an opinion based on an audit.
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