Which auditing standard/s require/s an expression of an opinion about the overall financial report?
A) ASA 700
B) ASA 705
C) Both ASA 700 and ASA 705
D) Neither ASA 700 nor ASA 705

Question

Quizplus · Accepted Answer

Both ASA 700 and ASA 705 require an expression of an opinion about the overall financial report. ASA 700 requires the auditor to form an opinion on whether the financial report is presented fairly, in all material respects, in accordance with the applicable financial reporting framework, while ASA 705 requires the auditor to issue a separate opinion on the fair presentation of the summary financial report.

Which Auditing Standard/s Require/s an Expression of an Opinion About