issuance of a written report. Required: a. What is the purpose of the. auditors' opinion and report? b. What are the major sections in the auditors' report on the examination of an issuer? What are the major contents of each of these sections? c. What are the four types of opinions that auditors can issue? d .How does the concept of materiality influence the auditors' report?

issuance of a written report. Required: a. What is the purpose of the. auditors' opinion and report? b. What are the major sections in the auditors' report on the examination of an issuer? What are the major contents of each of these sections? c. What are the four types of opinions that auditors can issue? d .How does the concept of materiality influence the auditors' report?

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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Similar questions

Audit documentation is the written record of the basis for the auditor's conclusions that provides the support for the auditor's representations, whether those representations are contained in the auditor's report. Required: b. Discuss TWO (2) important factors that affect the form of audit documentation.
Reporting Principle. The reporting principle requires auditors to express their opinionthrough the issuance of a written report.Required:a. What is the purpose of the auditors’ opinion and report?b. What are the major paragraph(s) in the auditors’ report on the examination of a publicentity? What are the major contents of each of these paragraphs?c. What are the four types of opinions that auditors can issue?d. How does the concept of materiality influence the auditors’ report?
What is the purpose of the auditors’ opinion and report?
Audit documentation is the written record of the basis for the auditor's conclusions that provides the support for the auditor's representations, whether those representations are contained in the auditor's report. Required: a. Assess the significance of documentation for audits.
What are the purposes of the scope paragraph in the auditor’s report? Identify the most important information included in the scope paragraph.
Which of the following is most closely related to the responsibilities principle?a. The auditors’ responsibility to issue a report as a result of their examination.b. The requirement that auditors gather sufficient, appropriate evidence upon which to base an opinion on the financial statements.c. The auditors’ compliance with relevant ethical requirements of independence and due care.d. The auditors’ responsibility to plan the audit and properly supervise assistants.
What shall the auditor do when he identified any matter that, although appropriately presented or disclosed in the financial and/or non-financial information, are of such importance that they are fundamental to the reader's understanding of the financial and/or non-financial information? a. He should include a "key audit matter" paragraph in the audit report b. He should include an "emphasis of matter" paragraph in the audit report c. He should include a "going concern" paragraph in the audit report d. He should include an "other matter" paragraph in the audit report
Justify the auditor's duty to evaluate conformity with applicable rules and regulations. How does this obligation vary between rules and regulations that have a direct impact on financial statements and those that do not?
1. What is appropriate audit evidence? How does an auditor determine whether the appropriate audit evidence is sufficient to support the opinion expressed in the auditor's report? 2. Explain the types of audit procedures
The external auditor: Group of answer choices Tests the underlying transactions that form the basis of the financial statements. In this way, they may state that these statements show a true and fair view. Tests the underlying transactions that form the basis of the financial statements. In this way, they may ensure that these statements show a true and fair view. Tests the underlying transactions that form the basis of the financial statements. In this way, they may form an opinion on whether or not these statements show a true view. Tests the underlying transactions that form the basis of the financial statements. In this way, they may form an opinion on whether or not these statements show a true and fair view.
State the objectives of the ordinary audit of financial statements. In general terms, how do auditors meet those objectives?
What are the purposes of the opinion paragraph in the auditor’sreport? Identify the most important information included in the opinion paragraph