True or False? The audit report contains attestation covering information contained in the MD&A section of the animal report.

True or False? One of the key disclosures in the annual report is a summary of significant accounting policies used by the company.

True or False? Auditing standards recognize that there are inherent limitations in an auditor's ability to detect material misstatements relating to the entity's compliance with laws and regulations.

True or False? The legal implications of a company's noncompliance with laws and regulations are ultimately a matter for the auditor to resolve before the audit opinion can be issued.