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Homework Answers
Answer 34 -
The purpose of the introductory paragraph in the standard unqualified report is to identify the financial statements audited and the dates and the time periods covered by the report. The purpose of the introductory paragraph is to inform the stakeholders that audit is conducted of these financial statements for this particular period.
Therefore, the correct answer is option b.
Answer 35 -
The scope paragraph of the standard unqualified audit report states that the audit is designed to obtain reasonable assurance whether the statements are free of material misstatement. The scope paragraph states that audit is conducted in accordance with auditing standards and provides a reasonable assurance to form an opinion.
Therefore, the correct answer is option d.
Answer 36 -
'Independence ' in auditing means taking an unbiased and objective viewpoint. Independence in audit means the auditor forms opinion based on his own judgment, taking due and reasonable care and practicing skepticism.
Therefore, the correct answer is option c.
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