Read the following audit report for a financial statement audit. Indicate where it appears that generally accepted auditing standards were violated either in the conduct of the audit or the style of the audit report.

As a stockholder of ABC Corporation, I was asked to briefly review the records of that company and render an opinion as to whether the financial statements are in accord with the accounting policies set forth in the company's manual.

In my opinion, the financial statements are fair and reflect the system of accounting traditional for this company.