Under Canadian Auditing Standards, the introductory paragraph of the independent auditor's report indicates that the auditor has audited the balance sheet, the income statement, the cash flow, a summary of accounting policies and notes, and
A) the statements of retained earnings.
B) the statement of changes in equity.
C) management's discussion and analysis letter.
D) the internal controls of the company.

Question

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The introductory paragraph of the independent auditor's report indicates that the auditor has audited the balance sheet, the income statement, the cash flow, a summary of accounting policies and notes, and the statement of changes in equity. The statements of retained earnings may be included in the notes to the financial statements but are not specifically mentioned as being audited. The management's discussion and analysis letter is not audited by the independent auditor. The internal controls of the company may be assessed as part of the audit but are not specifically mentioned in the introductory paragraph of the independent auditor's report.

Under Canadian Auditing Standards, the Introductory Paragraph of the Independent