Question 1 --/0.8 View Policies Current Attempt in Progress In the given table, match the terms related to an audit report. It must include the terms "registered" and "independent." D. It identifies the statements being audited and states the auditor's opinion. Title of an unmodified opinion Scope paragraph of an unmodified opinion Audit Opinion paragraph of an unmodified opinion U It briefly explains the process of conducting an audit and that the Public Company Accounting Oversight Board (PCAOB) standards were followed. D. It involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. e Textbook and Media Attempts: 0 of 2 used Submit Answer Save for Later Using multiple attempts will impact your score. 25% score reduction after attempt 1 Question 2 --/0.8 View Policies Current Attempt in Progress In the given table, match the concepts related to an audit report. A. It is of such importance that it is fundamental to users' understanding of the financial statements. D. They are quite similar for private and public company audits. Emphasis-of-matter paragraph Going concern issue with a client Reporting standards Core concept in accounting . It requires emphasis-of-matter paragraph to be added to the unmodified report, after the opinion paragraph. D. It requires accounting principles to be applied consistently from one accounting period to the next. eTextbook and Media Save for Later Attempts: 0 of 2 used Submit Answer Using multiple attempts will impact your score. 25% score reduction after attempt 1 Question 3 --/0.8 View Policies Current Attempt in Progress In the given table, match the concepts related to the audit report. A It means the group engagement partner is assuming responsibility for the work of the component auditor. It refers to the form of the group engagement team. Principal auditor Audit Not referencing the component auditor in the audit report Group engagement team It is responsible for the overall audit strategy for all of the components. It involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. e Textbook and Media Attempts: 0 of 2 used Submit Answer Save for Later Using multiple attempts will impact your score. 25% score reduction after attempt 1 Question 4 --/0.8 View Policies Current Attempt in Progress In the given table, match the terms related to audit opinion. A It is a description of the impact or possible impact of a material misstatement or material scope limitation on the financial statements as a whole. It is issued if a misstatement is material but not pervasive. Pervasive Disclaimer of opinion Adverse opinion Qualified opinion C. It is issued when the auditors state the financial statements are not fairly presented due to a pervasively material departure from the applicable financial reporting framework D. It is issued if a scope limitation is material and pervasive. eTextbook and Media Save for Later Attempts: 0 of 2 used Submit Answer Using multiple attempts will impact your score. 25% score reduction after attempt 1 --/0.8 Question 5 View Policies Current Attempt in Progress In the given table, match the concepts related to the auditor's report A It is a fact that becomes known to the auditor after the date of the auditor's report. B. It is the date of the completion of fieldwork. Written representation letter Dual dating Date of auditor's report Subsequently discovered fact It shows two dates on an audit report; one date is the end of fieldwork and the other is the date of a revision to the financial statements that occurred after the end of fieldwork. 5. It must be obtained when auditors choose to extend the end of fieldwork. e Textbook and Media Save for Later Attempts: 0 of 2 used Submit Answer Using multiple attempts will impact your score. 25% score reduction after attempt 1 View Policies Current Attempt in Progress In the given table, match the concepts related to the auditor's report. A. It is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes. B. It is a deficiency, or a combination of deficiencies, in internal control over financial reporting. Material weakness Scope limitation A company's internal control over financial reporting (ICFR) Disclaimer of opinion C. It occurs when auditors cannot perform planned procedures to gather sufficient appropriate evidence regarding the design and effectiveness of a client's internal controls. D. It states that the auditor does not express an opinion on the effectiveness of ICFR. eTextbook and Media Attempts: 0 of 2 used Submit Answer Save for Later Using multiple attempts will impact your score. 25% score reduction after attempt 1