Search the Internet (e. g., an entity’s website or sec.gov), and find an audit report for an entity’s audit of internal control over financial reporting. Deter-mine whether the entity used the combined or separate format.
The opinion paragraph of the audit report will indicate whether the report is for both audits. Even separate reports on each of the audits (of financial statements and controls) will refer to the conclusion reached on the other audit. In a combined report, the introductory paragraph will refer to the fact that the auditor audited both the entity’s financial statements and ICFR. In a separate opinion, the introductory paragraph will refer only to the audit that is being separately reported on.