Solved

Words and Phrases from the Auditor’s Standard Report Are Given

Question 83

Matching

Words and phrases from the auditor’s standard report are given below. Indicate where the item should appear in the report .

Premises:
We have audited
statements of income, retained earnings, and cash flows
in accordance with GAAS
in conformity with GAAP
Our responsibility is to express an opinion
responsibility of the Company’s management
statements are free of material misstatement
results of its operations and its cash flows
in all material respects
examining, on a test basis,
assessing the accounting principles used
evaluating the overall financial statement presentation
financial position of X Company
supporting the amounts and disclosures in the financial statements
a reasonable basis for our opinion
Responses:
I- Introductory.
S- Scope.
O- Opinion.

Correct Answer:

We have audited
statements of income, retained earnings, and cash flows
in accordance with GAAS
in conformity with GAAP
Our responsibility is to express an opinion
responsibility of the Company’s management
statements are free of material misstatement
results of its operations and its cash flows
in all material respects
examining, on a test basis,
assessing the accounting principles used
evaluating the overall financial statement presentation
financial position of X Company
supporting the amounts and disclosures in the financial statements
a reasonable basis for our opinion
Related Questions

Q74: If an extremely material scope limitation exists,

Q75: During a financial statement audit, the auditor

Q76: When a user sees that a standard

Q77: The second standard of field work requires

Q78: Which one of the following is not

Q79: SAS 54 lists a number of items

Q80: A significant aspect of conducting an audit

Q81: The auditor's standard report on internal control

Q82: Data are verifiable when two or more

Q84: The ten generally accepted auditing standards are

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents