Audit Analysis

21-1. An auditor has issued a standard report on the comparative financial statements of two fiscal years; this report will have . . . a. a single date with a single opinion covering a single two-year period. b. a single date with a single opinion covering two single-year periods. c. two dates with two opinions covering a single two-year period. d. two dates with two opinions covering two single-year periods.

21-2. If the Basis section in an auditors report on a nonpublic clients financial statements contains two paragraphs, the auditor apparently . . . a. did not issue an unmodified opinion. b. was engaged to communicate key audit matters. c. issued a report with a required emphasis-of-matter paragraph. d. issued a report with a discretionary emphasis-of-matter paragraph.

21-3. Which of the following best describes the conclusion expressed in an auditors report containing a qualified opinion due to a single FRF departure? a. That because of one matter, the financial statements might not materially conform with the FRF. b. That because of one matter, the financial statements do not materially conform with the FRF. c. That except for one matter, the financial statements may materially conform with the FRF. d. That except for one matter, the financial statements materially conform with the FRF.