Audit Reports - Clarified SAS Flashcards Preview

CPA > Audit Reports - Clarified SAS > Flashcards

Flashcards in Audit Reports - Clarified SAS Deck (5)
Loading flashcards...
1

What is Management Responsible for in regards to the Financial Statements?

Preparation and Fair Presentation of Financial Statements in accordance with the Applicable Financial Reporting Framework

2

What is Management Responsible for in regards to Internal Control?

Internal Control Design, Implementation, Maintenance

3

What are the 4 paragraphs in the Audit Report for an Unmodified Opinion?

Introduction
Management's Responsibility for the F/S
Auditor's Responsibility
Opinion

4

What are the 5 paragraphs in the Audit Report for an Modified Opinion?

Introduction
Management's Responsibility for F/S
Auditor's Responsibility
Basis for (Modified) Opinion
(Modified) Opinion

5

In an Unmodified Opinion with Emphasis-of-Matter / Other-Matter sections, what is the order of the paragraphs?

Introduction
Management's Responsibility for the F/S
Auditor's Responsibility
Opinion
Emphasis-of-Matter
Other-Matter