Submit a paper detailing types of audit reports for both issuers and nonissuers, highlighting the differences between the requirements for the audit reports for issuers and nonissuers. Be sure to describe the 5 types of audit reports, including: unmodified/unqualified, unmodified/unqualified with explanatory paragraph, qualified, adverse and disclaimer.

Also include a discussion of the differences between audit reports, reviews, compilations and preparations. Be sure to include the level of assurance for each.

Bullet-point format or outline format is fine.