The purpose of this assignment is to understand the standard-setting bodies related to the profession of auditing. This assignment also covers basic auditing concepts regarding the audit report, audit stages, and roles of the auditor.

After viewing the unit material, apply critical thinking when answering the following questions. Submit your responses in a Microsoft Word document.

1. What are the five sections of an unqualified audit report? Briefly describe the contents of each section.
2. What are the six stages of an audit? Briefly describe what happens in each stage.
3. What are the four types of auditors? Briefly describe the job functions of each type.
4. Describe the purpose of the AICPA. What is the AICPAs primary function?
5. Describe the primary roles of the PCAOB.
6. Describe how the Sarbanes-Oxley Act of 2002 has impacted the role of auditors.
7. What are the four types of audit reports? Describe what each type of report signifies for a company.