When audited financial statements are presented in a document containing other information, the auditor:
A)has an obligation to perform auditing procedures to corroborate the other information.
B)is required to issue an "except for" qualified opinion if the other information has a material misstatement of fact.
C)should read the other information to consider whether it is inconsistent with the audited financial statements.
D)has no responsibility for the other information because it is not part of the basic financial statements.

Question

Quizplus · Accepted Answer

According to auditing standards, when audited financial statements are presented alongside other information, the auditor should read the other information to consider whether it is materially inconsistent with the audited financial statements. The auditor is not required to perform additional auditing procedures to corroborate the other information, nor is an "except for" qualified opinion required unless the other information is presented with the audited financial statements in the same document, and there is a material misstatement of fact in the other information. The auditor does not have any responsibility for the other information beyond considering whether it is inconsistent with the audited financial statements.

When Audited Financial Statements Are Presented in a Document Containing