include the following paragraphs under the headings "Basis for Opinion" and "Auditor's Responsibilities for the Audit of the Financial Statements": (Click the icon to review the revised Basis for Opinion and Auditor's Responsibilities for the Audit of the Financial Statements paragraphs.) (Click the icon to view the Basis for Opinion and Auditor's Responsibility sec the standard unmodified opinion audit report example for a nonpublic company.) (Click the icon to view the Basis for Opinion section in the standard unmodifi opinion audit report example for a public company.) H. The ISA report notes that the audit was conducted in accordance with ISA standards rather than U.S. GAAS. Requirement b. How does the information in the IAASB's revised paragraphs compare to the information in the Basis for Opinion section in the standard unmodified opinion audit report exa a public company? (Select all that apply.) A. While the wording differs between the two reports, both the ISA report and the unmodified opinion audit report for public companies recognize that the audit entails the performance of procedures to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether caused by error or fraud. B. The ISA report notes that the audit was conducted in accordance with ISA standards rather than PCAOB auditing standards. C. Both reports provide additional information that emphasizes that reasonable assurance is not a guarantee. D. The unmodified opinion audit report for public companies include a statement containing the auditor's conclusion that the audit evidence obtained provides a basis for the opinion issue The ISA report does not include similar disclosures. E. The ISA report includes a sentence explicitly stating that the auditor is independent and that the auditor has complied with the IESBA Code. The audit report for public companies does have the same disclosure. F. The standard unmodified opinion audit report example for a public company notes that the audit was conducted in accordance with U.S. GAAP rather than PCAOB auditing standards. Requirement c. Discuss which of the three audit reports, in your opinion, provides greater auditor communications to users of the financial statements. The ISA report's discussion about the importance of auditor independence provides more explicit emphasis on the independence of the auditor, which may be a helpful reminder to users of financial statements. Additionally, the expanded discussion about the concept of reasonable assurance helps emphasize the fact that the audit is not a guarantee that all material misstatements will be detected. In contrast, the ISA report provides more information about the audit process and that increase in disclosure may lead to better user understanding about key aspects of the audit process and what the auditor has and has not MacBook Air Nex