audit of single f/s and specific elements, accounts and items Flashcards Preview

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Flashcards in audit of single f/s and specific elements, accounts and items Deck (4)
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1

Identify the auditor's responsibilities when engaged to report on a single financial statement or specific element of a financial statement.
2. Identify the reporting language that would be appropriate when issuing an audit report on a single financial statement or specific element of a financial statement.

f

2

if the specific element is based on SE then the auditor should obtain

sufficient appropriate audit evidence to express an opinion about financial position

3

if the specific element is based upon net income

the auditor should obtain sufficient appropriate evidence to express an opinion about both financial position and results of operations

4

incomplete presentation

anything less than a set of 12 criteria
if associated with incomplete presentation then a emphasis of matter paragraph is needed