A special purpose audit report is one that relates to:
A) non-financial information.
B) entities that are listed on the stock exchange or have borrowed from the public.
C) entities that are not reporting entities.
D) reports that must comply with approved accounting standards.

Question

Quizplus · Accepted Answer

A special purpose audit report is typically prepared for entities that are not reporting entities, meaning they do not have a wide range of users relying on their financial statements, and thus, the report is tailored to meet the specific needs of the users.

A Special Purpose Audit Report Is One That Relates To