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Match the Attestation Standard with the Generally Accepted Auditing Standard

Question 101

Matching

Match the attestation standard with the generally accepted auditing standard that is most similar in nature.

Premises:
The practitioner must state the practitioner's conclusion about the subject matter or the assertion in relation to the criteria against which the subject matter was evaluated in the report
The practitioner must state all of the practitioner's significant reservations about the engagement, the subject matter and, if applicable, the assertion related thereto in the report
The practitioner must adequately plan the work and must properly supervise any assistants
The practitioner must have adequate technical training and proficiency in the attest function
The practitioner must exercise due professional care in the planning and performance of the engagement
Responses:
The auditor must have adequate technical training and proficiency to perform the audit
The auditor must exercise due professional care in the performance of the audit and the preparation of the report
The auditor must adequately plan the work and must properly supervise any assistants
The auditor must state in the auditor's report whether the financial statements are presented in accordance with generally accepted accounting principles (GAAP)
The auditor must either express an opinion regarding the financial statements, taken as a whole, or state that an opinion cannot be expressed, in the auditor's report

Correct Answer:

The practitioner must state the practitioner's conclusion about the subject matter or the assertion in relation to the criteria against which the subject matter was evaluated in the report
The practitioner must state all of the practitioner's significant reservations about the engagement, the subject matter and, if applicable, the assertion related thereto in the report
The practitioner must adequately plan the work and must properly supervise any assistants
The practitioner must have adequate technical training and proficiency in the attest function
The practitioner must exercise due professional care in the planning and performance of the engagement
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