Reporting on Compliance with Requirements in an F/s Audit Flashcards
1
Q
When issuing a negative opinion on compliance with debt covenants, where can that be reported?
A
In a seperate audits report or combined with the with audited financial statement audit report
2
Q
If the compliance negative opinion is on the Independent audit report with the positive opinion, where should the compliance opinion be located?
A
Other matter paragraph
3
Q
T/F: a restricted use related to the other matter or restricted use paragraph needs to be included in the compliance paragraph is included?
A
TRUE
