Select the necessary words from the list of possibilities to complete the following statements. Answer Statements The purpose of an audit conducted in accordance with generally accepted auditing standards is to provide financial statement users with an opinion by the auditor on 1. whether the financial statements are presented fairly, in all material respects, in accordance with the applicable 2. International auditing standards are issued by the 3. The FASB is the source of authoritative GAAP to be applied by nongovernmental entities. Public company audit reports must be addressed to the board of directors and the 4. 5. CPA firms should establish policies and procedures to provide assurance that their services adhere to firm and professional standards. Select the necessary words from the list of possibilities to complete the following statements. Answer Statements The purpose of an audit conducted in accordance with generally accepted auditing standards is to provide financial statement users with an opinion by the auditor on 1. whether the financial statements are presented fairly, in all material respects, in accordance with the applicable 2. International auditing standards are issued by the assertion Codification 3. The FASB is the source of authoritative GAAP to be applied by nongovernmental entities. Public company audit reports must be addressed to the board of directors and the 4. financial reporting framework generally accepted accounting principles International Auditing and Assurance Standards Board interpretations 5. CPA firms should establish policies and procedures to provide assurance that their services adhere to firm and professional standards. ossibilities to complete the following statements. Answer s ce with generally accepted auditing s with an opinion by the auditor on fairly, in all material respects, in he interpretations ritative GAAP to be applied by professional skepticism quality control ed to the board of directors and the shareholders es and procedures to provide d professional standards. Statements on Auditing Standards