The auditor is required to communicate with those charged with governance, usually an audit committee, regarding the

Question:

The auditor is required to communicate with those charged with governance, usually an audit committee, regarding the significant audit findings and the planned form of audit report prior to their approval of the financial statements because.

a. The auditor is responsible for presenting financial statements that comply with GAAP.

b. The findings of the audit are an important factor for those charged with governance in deciding whether the financial statements are acceptable for their approval.

c. All non-trivial control deficiencies must be reported to a level of management above the level responsible for the control.

d. Auditors will have information about the financial statements to which those charged with governance do not have access.

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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