List four bases for special purpose financial statements Why is it important that the audit report clearly identify the basis of accounting used in the preparation of the financial statements ...

Four bases for special purpose financial statements are Regulatory basis ...

List four bases for special purpose financial statements. Why is it important that the audit report clearly

Question:

List four bases for special purpose financial statements. Why is it important that the clearly identify the basis of accounting used in the preparation of the financial statements?

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...