You recently hired an accounting major, a graduate of a local university, to assist you in your
Question:
You recently hired an accounting major, a graduate of a local university, to assist you in your CPA practice. She has been assisting you in the audit of the balance sheet of a small client. When you were called out of town for a day near the end of the audit, you asked her to draft the audit report for your review when you returned. On your return you found the following:
I have audited the books and accounts of March Company as of October 31, 19X9. My audit was performed in accordance with generally accepted auditing standards.
I certify that, in my opinion, the Balance Sheet correctly reflects the financial condition of March Company as of that date.
List and discuss the departures from generally accepted auditing standards of reporting that you would call to your assistant’s attention.
Step by Step Answer:
Auditing Integrated Concepts And Procedures
ISBN: 9781260299397
5th Edition
Authors: Donald H. Taylor, G. William Glezen