The auditors' report for a nonpublic company should indicate:
A)That the audit was made in accordance with auditing standards generally accepted in the United States of America.
B)Any weakness in internal control observed by the auditors.
C)That accounting principles have been consistently applied.
D)That no illegal acts have been identified.

Question

Quizplus · Accepted Answer

The auditors' report for a nonpublic company should state that the audit was conducted in accordance with auditing standards generally accepted in the United States of America. This is a standard requirement to assure users of the report that the audit was performed following recognized guidelines.

The Auditors' Report for a Nonpublic Company Should Indicate