Question: What guidance would the auditor rely upon for examples of
What guidance would the auditor rely upon for examples of audit reports appropriate to various types of special-purpose financial statements?
Answer to relevant QuestionsRefer to Exhibit and identify the primary parties involved in preparing and auditing financial statements, and then briefly describe their roles.AU-C Section 805 provides guidance on audits of single financial statements and specific elements, accounts, or items of a financial statement. Provide examples of these types of situations.Explain how an examination of prospective financial statements differs from a compilation of prospective financial statements.Describe the activities involved in an examination of prospective financial statements.Is it unethical for a company to provide a sustainability report, but provide no assurance on the reliability of the information contained therein?What steps should an auditor take to help identify fraud risk factors?
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