The standard unmodified report contains several important sentences and phrases. Give an explanation of why each of the following phrases is used instead of the alternative language indicated.
1. Address: “To the Board of Directors and Stock-holders” instead of “To Whom It May Concern.”
2. “We have audited the balance sheet of Any company as of December 31, 20X2, and the related statements of income, retained earnings, and cash flows for the year then ended” instead of “We have audited the attached financial statements.”
3. “We conducted our audit in accordance with generally accepted auditing standards” instead of “Our audit was conducted with due audit care appropriate in the circumstances.”
4. “In our opinion, the financial statements referred to above present fairly in conformity with generally accepted accounting principles” instead of “The financial statements are true and correct.”

  • CreatedJanuary 09, 2015
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