An identified user is a specific third party named in the audit engagement letter as a user of the audited financial statements.

Question

Quizplus · Accepted Answer

An identified user is not necessarily a specific third party named in the audit engagement letter; rather, it refers to any user who is known to rely on the audited financial statements, which could include a broader group than those specifically named.

An Identified User Is a Specific Third Party Named in the Audit