0 Required information Sections of an Audit Report for a Nonpublic Company Read the overview below and complete the activities that follow. The end product of an audit is a report expressing the auditor's opinion on the client's financial statements. A standard report includes an unqualified opinion (for a public company audit) or an unmodified opinion (for a nonpublic company audit) indicating that the audit was adequate in scope and that the financial statements present the financial position results of operations, and cash flows fairly in all material respects, and in accordance with Generally Accepted Accounting Principles. CONCEPT REVIEW An auditor's 'standard report indicates the financial statements audited which consists auditor's opinion, Introduction, management's responsiblity, and the auditor's responsibility is (are) responsible for the financial statements 2 The auditor's report is the of an audit es an 4 An opinion indicates that the financial statements ane presentecd 5 An audit report indicates that the audit evidence we have obtained is ill to provide a basis for the opinion