10 Questions
Which organization's auditing standards are used to describe the parts of the standard unmodified opinion audit report for nonpublic entities?
AICPA
Under which organization's auditing standards should an auditor specify the conditions required to issue the standard unmodified opinion audit report?
AICPA
According to the text, under which organization's auditing standards should an auditor report on financial statements and internal control?
PCAOB
In what circumstances is it appropriate to include an emphasis-of-matter explanatory paragraph or nonstandard wording in an unmodified opinion audit report?
When the auditor has doubts about the entity's ability to continue as a going concern
When is an unmodified opinion not justified and other types of audit reports may be issued?
When the auditor identifies material misstatements in the financial statements
Which organization's auditing standards are used to describe the parts of the standard unmodified opinion audit report for nonpublic entities?
AICPA
Under which organization's auditing standards should an auditor report on financial statements and internal control?
PCAOB
Under which organization's auditing standards should an auditor specify the conditions required to issue the standard unmodified opinion audit report?
AICPA
When is an unmodified opinion not justified and other types of audit reports may be issued?
When there are material misstatements in the financial statements
In what circumstances is it appropriate to include an emphasis-of-matter explanatory paragraph or nonstandard wording in an unmodified opinion audit report?
When there are uncertainties related to going concern
Test your knowledge on audit reports with this quiz! Learn about the parts of the standard unmodified opinion audit report for nonpublic entities, the conditions required to issue such a report, reporting on financial statements and internal control under PCAOB auditing standards, and the five components of an auditor's report.
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