The standard unqualified audit report for a non-public entity must:
A)have a report title that includes the word "CPA."
B)be addressed to the company's stockholders and creditors.
C)be dated.
D)include an explanatory paragraph.

Question

Quizplus · Accepted Answer

The standard unqualified audit report for a non-public entity must be dated. Choice A is incorrect because while the report may be prepared by a CPA, the report title does not necessarily have to include the word "CPA." Choice B is incorrect because the report is typically addressed to the company's board of directors and management, not specifically to stockholders and creditors. Choice D is incorrect because an explanatory paragraph is only required if there is a need to provide additional information or explain an issue related to the audit.

The Standard Unqualified Audit Report for a Non-Public Entity Must