Audit Reports Flashcards
1
Q
Types of Opinions
A
Unqualified, Unqualified with an emphasis of matter or explanatory paragraph, qualified, adverse or disclaimer
2
Q
Qualified Opinion
A
Except for
3
Q
Adverse
A
Do Not Present Fairly
4
Q
Disclaimer
A
Unable to Express an Opinion
5
Q
AFRF
A
Applicable Financial Reporting Framework, mentioned in Opinion
6
Q
Where are GAAS mentioned in the audit report? FOR NON ISSUERS
A
Auditor’s Responsibility
7
Q
Do not mention GAAS in PCAOB audit report, mention what instead?
A
Standards of the PCAOB
8
Q
PCAOB Audit Report
A
Intro, Scope, Opinion, Internal Control
9
Q
Title for PCAOB Audit Report
A
Report of Independent Registered Public Accounting Firm
10
Q
In PCAOB Intro paragraph, what three paragraphs need be mentioned?
A
Statements, MGMT Responsibility, Auditor Responsibility
