When expressing an opinion on a specified account or item in the financial statements, the auditor need only consider that account or item. However, the auditor must have audited the entire set of financial statements if this engagement requires a report on the entity's:
A)net income.
B)retained earnings.
C)assets.
D)working capital.

Question

Quizplus · Accepted Answer

The auditor must have audited the entire set of financial statements if this engagement requires a report on the entity's net income.

When Expressing an Opinion on a Specified Account or Item