What is the auditors' responsibility for reporting on other information accompanying financial statements?
A) Because this information is not a fundamental part of the financial statements, the auditors have no reporting responsibility with respect to this information.
B) Auditors are required to report on other information only if it is misstated or inconsistent with the financial statements.
C) Auditors are required to provide reasonable assurance with respect to whether the other information is presented in accordance with generally accepted accounting principles.
D) Auditors are required to express an opinion on whether the other information is presented in accordance with generally accepted accounting principles.

Question

Quizplus · Accepted Answer

The auditors are only required to report on other information accompanying financial statements if it is misstated or inconsistent with the financial statements. The responsibility for the presentation of other information lies with the entity preparing the information. The auditors' responsibility is limited to the financial statements and the accompanying notes.

What Is the Auditors' Responsibility for Reporting on Other Information