MGT321H5 Lecture Notes - Lecture 3: Dual Dating, Financial Statement, Kpmg
Document Summary
Assurance someone walk into your store they provide audit (high level assurance), review (moderate level of assurance) More evidence = more confidence therefore decrease audit risk. Quality control to make sure good product and good assurance provided. Associated: when perform a service or allow name to be used in the context where we performed the service. Therefore if you do an audit, need to make sure it"s an accurate reproduction (company has not changed around presentation/report itself before they post it up on the website/public) What if they are referring to you as an auditor yet you didn"t do an audit for them (maybe review, etc) Objection of auditor: form opinion, and communicate it. In order to form an opinion (pg 3 of handout) Uncorrected misstatements are not material if they are therefore is an accounting problem. 1: state if have been audited, refer to accounting policies, specify date covered.
