A number of years ago a large public accounting firm used a form of the opinion paragraph shown below.

In our opinion, the financial statements referred to above present fairly (in all material respects) the financial position of X Company as of December 31, 19X2, and the results of its operations and its cash flows for the year then ended, and were prepared in conformity with generally accepted accounting principles.

How does this opinion differ from the one included in the present report?

What additional responsibility, if any, is the auditor assuming in the preceding opinion paragraph?

How does the concept of fairness in the above opinion compare with the concept in SAS No. 69 ?