An auditor who conducts an examination in accordance with generally accepted auditing standards and concludes that the financial statements are fairly presented in accordance with a comprehensive basis of accounting other than GAAP, should issue a:

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When an auditor concludes that financial statements are fairly presented in accordance with a comprehensive basis of accounting other than GAAP, they should issue a special kind of report. This report should identify the basis of accounting used and explain the reasons why GAAP was not used. A qualified opinion or disclaimer of opinion would be issued if the auditor had concerns about the fairness of the financial statements. A review report is issued for limited assurance engagements, where the auditor provides a lower level of assurance than an audit.

An Auditor Who Conducts an Examination in Accordance with Generally