Audit reports issued for financial statements should refer to auditing standards in the auditor's responsibility paragraph.

Question

Quizplus · Accepted Answer

Audit reports typically refer to auditing standards in the auditor's responsibility paragraph to indicate the framework or guidelines followed by the auditor in conducting the audit. This reference helps assure users of the financial statements that the audit was performed in accordance with recognized standards.

Audit Reports Issued for Financial Statements Should Refer to Auditing