A careful reading of a standard unqualified auditor's report indicates several important phrases. Explain why each of the following phrases or clauses is used rather than the alternative provided.

a. "In our opinion, these financial statements present fairly" rather than "These financial statements present fairly."

b. "We conducted our audit in accordance with Canadian generally accepted auditing standards" rather than "Our audit was performed to detect material misstatements in the financial statements."

c. "These financial statements present fairly, in all material respects, the financial position" rather than "These finan¬ cial statements are correctly stated."

d. "In accordance with Canadian generally accepted accounting principles" rather than "are properly stated to represent the true economic conditions."

e. "Brown & Phillips, CAs (firm name)," rather than "James E. Brown, CA (individual partner's name)."