Which of the following paragraphs or sections of the group auditors' report is modified to identify the extent of component auditor involvement in the audit of group financial statements?
A)The Opinion on the Financial Statements section.
B)The Basis for Opinion section.
C)The Opinion on the Financial Statements section and Basis for Opinion section.
D)The explanatory paragraph.

Question

Quizplus · Accepted Answer

The extent of component auditor involvement is typically disclosed in both the Opinion on the Financial Statements section and the Basis for Opinion section of the group auditors' report. These sections may indicate which portions of the audit work were performed by the component auditor, and may include a statement about the responsibilities of the group engagement team versus the component auditor.

Which of the Following Paragraphs or Sections of the Group