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?

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.

Which of the following factors most likely affects the auditor's judgment about the quantity, type, and content of working papers?   The nature and condition of the client's accounting and internal control systems The content of the client's representation letter. The timing of substantive tests completed prior to the balance sheet date d The usefulness of the working papers as a reference source for the client

The particular and specialized actions that auditors take to obtain evidence during a specific engagement are known asa. Audit procedures.b. Audit standards.c. Interpretive publications.d. Statements on Auditing Standards

Regarding Target’s audit report:a. Who is Target’s auditor?b. Did Target receive a “clean” (unmodified) audit opinion?

Generally accepted auditing standards (the performance principle) require auditors to gather sufficient appropriate evidence on which to base an opinion.Required:a. Briefly define the characteristics “sufficient” and “appropriate” as they relate to audit evidence.b. What are relevance and reliability (as they relate to audit evidence)? How do these concepts relate to the auditors’ requirement to gather sufficient appropriate evidence?c. How does the source of evidence affect its reliability?d. How does the effectiveness of the entity’s internal control affect the sufficiency and appropriateness of evidence gathered by auditors?

The information used by auditor in arriving at conclusions on which auditor’s opinion is based is called ________________ Audit Evidence Substantive procedures Vouchers Auditor’s Report