Reports on debt compliance and similar engagements may be issued as a separate report or as part of a report that expresses the auditor's opinion on the financial statements. When they are issued as a part of the report on the financial statements, it is done by:
A) adding a middle paragraph before the opinion paragraph.
B) adding a paragraph between the introductory and scope paragraphs.
C) adding a paragraph after the opinion paragraph.
D) adding an additional phrase or sentence within the opinion paragraph.

Question

Quizplus · Accepted Answer

Adding a paragraph after the opinion paragraph is the method used for including reports on debt compliance and similar engagements within the report on the financial statements. This allows the auditor to express their opinion on the financial statements separately before addressing the additional matters.

Reports on Debt Compliance and Similar Engagements May Be Issued