Refer to the audit report for Asyst Technologies in exhibit. The report is presented as an example
Question:
Required
a. What is the auditor’s opinion on the financial statements? To what financial statements and what years does the financial statement audit opinion apply?
b. What ICFR framework did management and the auditor use?
c. What was the material weakness in ICFR that caused the adverse opinion?
d. To what is the audit report referring when it mentions Management’s Report on Internal Control Over Financial Reporting appearing under Item 9A? What Section of SOX required this particular management report?
e. The audit report includes statements beginning whit: As discussed in Note: Why are these statements included? Do they affect the auditor’s opinion on 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... 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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a The auditors opinion is a clean or unqualified opinion This opinion applies to the accompanying consolidated balance sheets and the related consolid...View the full answer
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Related Book For 
Auditing and Assurance Services Understanding the Integrated Audit
ISBN: 978-0471726340
1st edition
Authors: Karen L. Hooks
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