ASA 700 requires that the title of the audit report:
A) include the word 'independent'.
B) not include any discriminatory language.
C) indicate whether the author is a proprietorship, partnership or incorporated.
D) indicate whether the author is a member of a professional body.

Question

Quizplus · Accepted Answer

ASA 700 requires that the title of the audit report includes the word 'independent' to highlight the auditor's independence in performing the audit. This helps to increase the credibility of the audit report and assure users of the audit report that the auditor was independent in his/her assessment of the entity's financial statements.

ASA 700 Requires That the Title of the Audit Report