In June 2003, IFAC issued an IAPS providing additional guidance for auditors internationally when they express an opinion on financial statements that are asserted by management to be prepared in either of the following ways Solely in accordance with IFRS In accordance with IFRS and a national fina...

Additional guidelines provided in International Auditing Practice Statement IAPS 1014 in expressing ...

In June 2003, IFAC issued an IAPS providing additional guidance for auditors internationally when they express an

Question:

In June 2003, IFAC issued an IAPS providing additional guidance for auditors internationally when they express an opinion on that are asserted by management to be prepared in either of the following ways:
• Solely in accordance with IFRS.
• In accordance with IFRS and a national financial reporting framework.
• In accordance with a national financial reporting framework with disclosure of the extent of compliance with IFRS.
Required:
Identify the additional guidelines under each of the three categories of audit opinion.
Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...