Answered: Which may not be shown in an auditor's…

Which may not be shown in an auditor's report of a non listed entity? A. Auditor's address B. Management responsibility paragraph C. Key audit matters paragraph D. Auditor's responsibility paragraph

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Q: 9. Consider Special Reports. What type involves a "different basis of accounting"? a.…

Q: When component auditors are involved in the audit of group financial statements the group auditors…

A: Component auditor means an auditor appointed for the branch or subsidiary company in the group…

Q: entify the three types of modification to an auditor’sopinion on financial statements according to…

A: Auditors report Auditors report is the disclaimer issued by internal auditor or an external auditor…

Q: Which of the following normally occurs earliest in the audit examination?a. Discovery of an omitted…

A: Audit examination is the examining of all the audit workings and review them in order to ensure…

Q: What is the auditor’s responsibility for obtaining anunderstanding of internal control? How does…

Q: 4 p An engagement letter is used primarily to: Ensure a clear contractual understanding of the…

A: The answer for above question is given below:

Q: What type of audit opinion is expressed by an auditor performing a limited scope audit? Select one:…

A: Introduction:- The following four types of auditor opinions as follows under:- Unqualified…

Q: Question: In accounting, which type of audit is conducted by an independent firm or organization…

A: Option B is correctExplanation:Answer is B)External Audit :In accounting, External audit is…

Q: For each of the following independent situations, assume that any amounts would be material. (1)…

A: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…

Q: 16. What is the purpose of information presented in notes to financial statements? a. To present…

A: Disclaimer:- Since you asked multiple question in one question, we will provide you the answer of…

Q: Auditor's report is often called Independent Auditor's Report. Why is independence important to the…

A: Auditor is the person whos is responsible for identifying the fraud and errors presented in the…

Question

Which may not be shown in an auditor's report of a non listed entity?

A. Auditor's address

B. Management responsibility paragraph

C. Key audit matters paragraph

D. Auditor's responsibility paragraph

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

Subject :- Account
Service organization control (SOC) reports may be requested by auditors when a service organization processes transactions related to a client's (user organization) internal control over financial reporting. Required: For each of the following statements related to Service Organization Control (SOC) reports, indicate whether it is appropriately related to a Type 1 report (T1), Type 2 report (T2), both a Type 1 and Type 2 report (B), or neither a Type 1 or Type 2 report (N). a. Disclaims an opinion on the fairness of the entity's financial statements. b. Provides a description of the service organization's internal control over financial reporting. c. Summarizes tests of operating effectiveness of controls at the service organization. d. Expresses an opinion on the suitability of design of internal controls over financial reporting. B e. Use of the service auditor's report is restricted to specified parties. f. Would be requested when client is an issuer. g. Disclaims an opinion on the…
In which type of service does the CPA assemble the financial statements but provide no assurance to third parties? Audit Compilation Review Bookkeeping
Which of the following matters is an auditor not required to communicate to those charged with governance? A. Significant adjustments arising from the audit that were recorded by management. B. The basis for the auditor's conclusions about the reasonableness of management's sensitive accounting estimates. The level of responsibility assumed by the auditor under generally accepted auditing standards. The degree of reliance the auditor placed on the management representation letter.. O C. D.
What type of opinion is issued by the auditor on the financial statements when there is some limitation on the scope of the audit or when one or more items in the financial statements are not presented in accordance with applicable accounting principles?
Which item regarding an Emphasis of Matter paragraph is true? a. The auditor will use the E of M to restrict distribution of the audit report. b. The auditor will use the E of M when the client has corrected an error in the previous financial statements. c. An E of M will be used when a material error exists in the current financial statements. d. The E of M paragraph is usually located immediately before the opinion paragraph. e. The E of M paragraph would be used to discuss a client's change in the method to estimate bad debts.
s1: The component auditor is responsible for the direction, supervision and performance of the group audit engagement in compliance with professional standards and regulatory and legal requirements, and whether the auditor's report that is issued is appropriate in the circumstances. S2: The auditor's report on the group financial statements shall may refer to a component auditor. S3: A group have have one or more components. a. All statements are true b. All statements are false c. S1 and S2 are true d. S2 and S3 is true
In which of the following circumstances does not require auditors to modify the content of the standard report on the entity's financial statements? The auditors reference component auditors O who examined a subsidiary of group financial statements.
Question 3 State the principal aspects which the statutory auditor should look into before framing an opinion on finalization of audit of accounts
Indicate a specific audit procedure under each of the following categories, as applied particularly in the sales and collection cycle.a. test of controlb. substantive test of transactionsc. substantive test of account balances
The responsibility for the financial statements rests A. jointly with the auditor and management B. solely with management C. with the internal audit function D. solely with the external auditor
The standard unmodified auditors' report generally refers to both accounting principles and auditing standards. In which of the sections are these terms used? O Auditing standards in management responsibilities and opinion paragraphs and accounting principles in the auditor's responsibilities. O Accounting principles in management responsibilities, opinion paragraph, and auditor's responsibilities, and audit standards in the auditor's responsibilities. O Auditing standards in management responsibilities, opinion paragraph, and auditor's responsibilities, and accounting principles in the auditor's responsibilities. O Accounting principles in management responsibilities and opinion paragraphs and audit standards in the basis for opinion and auditor's responsibilities sections.