Which of the following is not one of the reporting standards of GAAS that guides auditors in formulating the audit opinion?
A) The financial statements have followed GAAP
B) Consistency in the application of GAAP
C) Adequate disclosures exist in the statements
D) Gathering sufficient audit evidence to warrant an opinion

Question

Quizplus · Accepted Answer

The three reporting standards of GAAS (Generally Accepted Auditing Standards) that guide auditors in formulating the audit opinion are: the financial statements have followed GAAP, consistency in the application of GAAP, and adequate disclosures exist in the statements. Gathering sufficient audit evidence to warrant an opinion is part of the standards of fieldwork, not the reporting standards.

Which of the Following Is Not One of the Reporting