Auditing & Assurance Services 6th Edition by Timothy Louwers

تمرين 19

Which of the following is not a difference in the audit examinations and reports for public and nonpublic entities?
A) Audit examinations for nonpublic entities are based on user demand but based on legislative requirements for public entities.
B) The reports for both public and nonpublic entities express an opinion on the entity's financial statements.
C) Auditors are required to express an opinion on internal control in the audit of nonpublic entities but not in the audit of public entities.
D) Management is responsible for the fairness of the financial statements for public entities, but the auditors are responsible for the fairness of the financial statements for nonpublic entities.