A sample audit report is provided in figure 1.2 in this chapter. A sample review engagement report
Question:
Required
(a) Explain the relevance of the paragraphs "Management's responsibility for the financial statements" and "Auditor's responsibility" in the audit report to the audit expectation gap.
(b) Find the lines in the audit report that express the auditor's opinion. Is it an unqualified or modified audit opinion?
(c) Find the lines in the review report that express the auditor's conclusion. Is it an audit opinion? Is it a positive or negative statement?
(d) Make a list of the other differences between the audit report and the review report.
Audit Report
The audit report is issued by a certified public accountant who is appointed by the shareholders to provide assurance upon the truth and fairness of the financial statements prepared by the managers of the company. Audit report contains the...
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
a These paragraphs highlight to readers that the directors of the company and the auditors have sepa...View the full answer
Answered By
Utsab mitra
I have the expertise to deliver these subjects to college and higher-level students. The services would involve only solving assignments, homework help, and others.
I have experience in delivering these subjects for the last 6 years on a freelancing basis in different companies around the globe. I am CMA certified and CGMA UK. I have professional experience of 18 years in the industry involved in the manufacturing company and IT implementation experience of over 12 years.
I have delivered this help to students effortlessly, which is essential to give the students a good grade in their studies.
2+ Reviews
10+ Question Solved
Related Book For 
Question Posted:
