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Describe how users of the financial statements may benefit from communications about these matters in an audit report. Users may find the disclosures by the
Describe how users of the financial statements may benefit from communications about these matters in an audit report.
Users may find the disclosures by the auditor about critical audit matters helpful in understanding
some of the challenges and issues that arose during the audit.
some of the standard procedures that are followed during the audit.
the scope of the auditor's work and opinion on internal control over financial reporting.
what the auditors spent most of their time focused on during the audit.
Matters that would be disclosed provide users insights about the
most difficult, subjective, or complex auditor judgments or issues that posed the most difficulty to
most difficult, subjective, or complex auditor judgments or issues that prevented
the auditor in obtaining sufficient appropriate evidence for forming an opinion.
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