Use the Internet to locate the financial statements (and associated audit report) of one company reporting using

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Use the Internet to locate the financial statements (and associated audit report) of one company reporting using U.S. accounting standards and another company reporting using international accounting standards.
Required
a. Describe key differences between the two audit reports.
b. Articulate how these differences may affect the relative informativeness of the audit report to users. Which of the reports do you find most useful and why?
c. International audit reports generally are signed by the engagement partner who supervised the audit, whereas such disclosures are not required in the United States. Why is the public disclosure of the engagement partner's name useful? Why might partners in the United States prefer not to sign their names to audit reports? What implications may this difference have for users of the audit reports?
Audit Report
The audit report is issued by a certified public accountant who is appointed by the shareholders to provide assurance upon the truth and fairness of the financial statements prepared by the managers of the company. Audit report contains the...
Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...
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Auditing A Business Risk Approach

ISBN: 978-0538476232

8th edition

Authors: Karla Johnstone, Audrey Gramling, Larry Rittenberg

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