Which one of the following is a reporting standard requirement?
A)The auditor will state explicitly whether the financial statements are fairly presented in accordance with the applicable financial reporting framework.
B)The auditor will identify in the auditor's report,those circumstances in which auditing principles have not been consistently observed in the current period in comparison to the preceding period.
C)The auditor will review adjusting journal entries for accuracy,and if the auditor concludes those entries are not reasonable accurate,the auditor must so state in the auditor's report.
D)The auditor will express an unqualified opinion on the financial statements,or will conduct additional audit procedures until such an opinion can be expressed.

Question

Quizplus · Accepted Answer

The reporting standard requirement is that the auditor will state explicitly whether the financial statements are fairly presented in accordance with the applicable financial reporting framework. This statement is known as the auditor's opinion and is an integral part of the auditor's report. Option B refers to consistency of auditing principles, which may be included in the auditor's report but is not a reporting standard requirement. Option C refers to review of adjusting journal entries, which may also be included in the auditor's report but is not a reporting standard requirement. Option D refers to express an unqualified opinion, which is a common type of opinion but not a reporting standard requirement.

Which One of the Following Is a Reporting Standard Requirement