BU477 Chapter Notes - Chapter 19: Professional Responsibility, Accounting, Accounts Receivable
Document Summary
The audit opinion and the auditors" reporting responsibilities: when auditors perform the financial statement audit, they have the responsibility to: Bu477 chapter 19: notes: form an opinion on the financial statements, issue the opinion in a written report that describes the basis of the conclusion. An audit engagement has been undertaken to express an opinion on financial statements: 2. The auditor followed generally accepted auditing standards (gaas: 3. The auditor was able to perform all necessary procedures. (sufficient appropriate audit evidence has been accumulated, and the auditor has conducted the engagement in a manner that concludes that the examination standards have been met: 4. There are no circumstances which, in the opinion of the auditor, would require modifying the wording of the report or adding an additional explanatory paragraph: when these conditions are met, the standard unqualified auditor"s report is issued.
