0 Required information Sections of an Audit Report for a Nonpublic Company Read the overview below...

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0 Required information Sections of an Audit Report for a Nonpublic Company Read the overview below and complete the activities that follow The end product of an audit is a report expressing the auditors opinion on the clients financial statements. A standard report includes an unqualified opinion (for a public company audit) or an unmodified opinion (for a nonpublic company audit) Indicating that the audit was adequate in scope and that the financial statements present the financial position, results of operations, and cash flows fairly in all material respects, and in accordance with Generally Accepted Accounting Principles CONCEPT REVIEW: An auditors standard report indicates the financial statements audited which consists auditors opinion, Introduction. managements responsibility, and the auditors responsibility Put the following components of the standard auditors report in the correct order Managements Responsibity tor Introductionesponsibility Auditors Title Opinion the Financial Statements

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Answer 1

Answer #1

The components of the standard auditors' report are in the following order:

Title
Addressee
Auditor's opinion
Basis of opinion
Management's responsibility for financial statement
Auditor's responsibility
Other reporting responsibilities
Location of the description of the auditor's responsibilities
Signature of the auditor
Place of signature
Date of audit report

The answer to this question is in the following order:

Title
Introduction
Opinion
Management's responsibility for financial statements
Auditor's responsibility

Note: introduction is not specified in the standard format of auditor's report, however, if it is written by the auditor, it will be in the order specified above.

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Answer 2

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0 Required information Sections of an Audit Report for a Nonpublic Company Read the overview below...

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