The unmodified standard audit report of a nonpublic company does not explicitly state that:

		The financial statements are the responsibility of the company's management.
		The auditors believe that the audit provides a reasonable basis for their opinion.
		An audit includes evaluating the appropriateness of accounting policies used.
		The audit was conducted in accordance with accounting principles generally accepted in the United States of America.

Internal control over accounts payable is improved when:

	a	Vendor statements are reconciled with the accounts payable ledger.
	b	Payment is made upon approval of the purchasing agent.
	c	Informal bids are obtained.
	d	Annual trial balance of accounts payable subsidiary ledgers is required.