Chapter 2 Completion Questions Select the necessary words from the list of possibities to complete the following statements Answer The purpose of an audit conducted in accordance with generally accepted auditing standards statements are presented tairly, in all material respects, in accordance with the applicable | The serialy numbered pronouncements issued by the Audeng Standards Board of the ACPA is to provide financial statement users with an opinion by the auditor on whether the financial 2 as generally accepted auditing standards are known as | Investors need to compare financal statements of different companies The standards most frequently followed to prepare financial statements in the United States are Public company audit reports must be addressed to the board of directors and the Having a questioning mind, being alert to conditions that may indicate possble misstatement 5. due to errors or traud, and having a critical assessment of audit evidence are all characteristics of Guidelines issued by the AICPA for the scope and application of the Code of Professional Conduct Rules of Conduct are called The FASB is the source of authoritative GAAP to be appied by nongovernmental CPA firms should establish their services adhere to firm and professional standards policies and procedures to provide assurance that An attestation engagement includes a report on subject mater, or on an about subject matter 10. International auditing standards are issued by the statements. Answer rds cial ICPA nost assertion Codification financial reporting framework generally accepted accounting principles ement onal ernmental ce that _about Answer ed auditing standards whether the financial with the applicable rds Board of the AICPA International Auditing and Assurance Standards Board interpretations professional skepticism quality control shareholders Statements on Auditing Standards . The standards most s are tors and the e possible misstatement ence are all Code of Professional pplied by nongovernmental provide assurance that on an about