The standard (unmodified) report issued in the audit of a non-issuer includes a(n)
A)Responsibilities of Management for the Financial Statements Section providing a general description of an audit conducted in accordance with the applicable auditing standards.
B)Opinion Section identifying the responsibility of management and auditors in the financial reporting process.
C)Internal Control Section indicating the effectiveness of the entity's internal control over financial reporting.
D)Opinion Section providing the auditors' conclusion as to the fair presentation of the financial statements.

Question

Quizplus · Accepted Answer

The standard (unmodified) report issued in the audit of a non-issuer includes an Opinion Section providing the auditors' conclusion as to the fair presentation of the financial statements. The Responsibilities of Management for the Financial Statements Section provides a description of management's responsibilities, not the audit conducted. The Internal Control Section is only included in the audit report if the auditor decides to report on internal control over financial reporting.

The Standard (Unmodified) Report Issued in the Audit of a Non-Issuer