You have learned that the auditor is responsible for expressing an opinion on the financial statements. The

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You have learned that the auditor is responsible for expressing an opinion on the financial statements. The term “financial statements” includes the four financial statements and the notes that accompany the financial statements. A company’s financial statements are often included as part of a larger document, such as the annual report. Does the auditor have any responsibility related to the other information in the documents containing the audited financial statements?


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Research the ASB and PCAOB standards online to determine if auditors have any responsibility for other information in documents containing the audited financial statements. Write a summary of your findings, and also discuss if the auditor’s responsibility is different depending on if the client is a public company or private company.

Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...
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Auditing A Practical Approach with Data Analytics

ISBN: 978-1119401742

1st edition

Authors: Raymond N. Johnson, Laura Davis Wiley, Robyn Moroney, Fiona Campbell, Jane Hamilton

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