Question
In the space provided, match the appropriate types of reports from the selection list that best fit with the corresponding situations. Each item in the
In the space provided, match the appropriate types of reports from the selection list that best fit with the corresponding situations. Each item in the list may be used once, more than once, or not at all.
- Unmodified Report
- Unmodified Report with an Emphasis of Matter Paragraph
- Unmodified Report on Group Financial Statements with a Reference to the Component Auditor
- GAAP Departure
- Adverse Opinion
- Disclaimer of Opinion
- Compilation Report
- AgreedUpon Procedures Report
- Engagement Completion Document
1. An entitys audited financial statements contain a material departure from GAAP that renders the financial statements, taken as a whole, to be misleading (that is, not fairly stated).
2. An auditors report is based, in part, on the report of component auditors who audited a material subsidiary of the consolidated enterprise that is the object of the group auditors report.
3. Assisting an entity that is a nonissuer in assembling its information in the form of financial statements without an expression of assurance.
4. An auditor has identified an entitys change in accounting principles in the current year in relation to the prior year and has determined that the effect of the change is immaterial. No other issues have been identified.
5. A report that does not express either positive or negative assurance, but instead is presented in the form of procedures and findings, and is restricted to the specified users.
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