What words and phrases in an unqualified audit report imply that there is a risk that the audited financial statements may contain a material misstatement?
Answer to relevant QuestionsUnder what circumstances might the auditor choose not to refer to other auditors who worked on a part of the audit? How do the requirements differ under international auditing standards?What is the nature of the qualification of the audit report for Honda Motor Company? How was the audit report modified?The SEC issued Accounting and Auditing Enforcement Release (AAER) No. 2393 on March 8, 2006. The Enforcement Release related to the matter of Michael B.Johnson and Michael Johnson & Co. and concerns the audits of Winners. ...When a client has a justified departure from GAAP, how should the auditor modify the audit report?The current audit report format has been criticized for its lack of useful and complete information. Over the past several years, investors, regulators, and auditors have debated the need for changes to the standard audit ...
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