Review the audit reports in the following companies annual reports for the year indicated. Note: this worksheet was developed using publicly available audit reports issued prior to 2018 so most are based on PCAOB Standards prior to the effective date of the revised standards. Determine which item(s) (A-K) best describe the type of report (opinion) that was given by the auditor. Each item (A-K) may be used once, more than once, or not at all.

______1) GE 2013

______2) MEMC Annual Report 2002

______3) Four Point Creative Portfolio -- Boston, Massachusetts 2015

______4) Walmarts most recently issued audit report (use the internet to locate the most recently issued annual report)

______5) Pennsylvania Real Estate Investment Trust 2003

______6) Novartis 2008

______7) 1-800-Contacts 2001 - 2003

______8) Boeing 2003

______9) General Motors 2008

______10) Lucent Technologies 2004

______11) Regions Bank Annual Report 2004

______12) Johnson & Johnson 2014 ______13) Valentis 2003 ______14) Oracle 2004 ______15) Pfizer 2002 ______16) Center Point Energy 2003

A. Standard unqualified opinion.

B. Unqualified opinion with explanatory language (change in accounting principle)

C. Unqualified opinion with exp. language (change in entity impacting consistency)

D. Unqualified opinion with explanatory language (use of another auditor) E. Unqualified opinion with explanatory language (going concern)

6. Qualified opinion scope
7. Qualified opinion - GAAP
8. Adverse opinion.
1. Disclaimer
10. Report based on international standards.
11. Unmodified report following AICPA standards

17) Which audit report(s) are dual dated? Why is this done?

18) Which report(s) include a separate opinion on financial information that is supplementary to the consolidated financial statements?

19) Which report(s) include the emphasis of a matter?

20) Which unmodified opinion uses the Clarified Standards report format?

21) Which accounting firm does not follow the conventional ordering of the standard unqualified report?

22) Which company received an unqualified opinion on its financial statements and an adverse opinion on the effective operation of its internal controls over financial reporting.

23) Review Pfizers Management Report and Audit Committees Report which accompany the auditors report. What do these reports say about managements and the audit committees responsibilities?

24) Why did 1-800-Contacts have two separate audit reports covering the three accounting periods included in its 2003 annual report?

I need help understanding which opinion report was issued and why.