Question
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.
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