Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Listed below are words and phrases from the auditors' standard (unmodified) report on the entity's financial statements. For each of the words and phrases indicate

Listed below are words and phrases from the auditors' standard (unmodified) report on the entity's financial statements. For each of the words and phrases indicate by letter in which paragraph of the standard (unmodified) report they should appear:

A. introductory paragraph

B. management responsibility section

C. auditor's responsibility section

D. opinion paragraph

_____ 1. Audit provides a reasonable basis for an opinion.

_____ 2. The financial statements present fairly, in all material respects.

_____ 3. Auditors' responsibility is to express an opinion.

_____ 4. Auditors perform the audit to obtain reasonable assurance.

_____ 5. Financial statements are in accordance with accounting principles generally accepted in the United States of America.

_____6. Responsibility of the entity's management for the financial statements.

_____7. Results of its operations and its cash flows.

_____8. Conducted our audits in accordance witht he auditing standards generally acccepted in the United States of American.

_____9. Management is responsible for the design, implementation, and maintenance of internal control.

_____10. We have audited the accompanying financial statements.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Systems Direct Auditing Practice Case IBM Book Workbook And 5.25 Disk

Authors: Dieter Weiss, Gaylord N. Smith

1st Edition

0538809051, 978-0538809054

More Books

Students also viewed these Accounting questions