Which of the following situations would not result in restricted use language being included in an auditor's special report?

Question

Quizplus · Accepted Answer

Choice "D" is correct. A report on an incomplete financial presentation that is otherwise prepared in conformity with GAAP generally would contain restricted use language; however, an exception occurs when the presentation and the report are filed with a regulatory agency and included in a document distributed to the general public. Choice "A" is incorrect. A report on a specified element in a financial statement, where that element is prepared in accordance with the terms specified in a related contract, would contain restricted use language. Choice "B" is incorrect. A report on a client's compliance with a regulatory requirement, assuming the report is prepared based on a financial statement audit of the complete financial statements, would contain restricted use language. Choice "C" is incorrect. An "OCBOA" report on financial statements prepared in conformity with requirements established by a regulatory agency should contain restrictive use language. This is appropriate even though law or regulation may make the auditor's report is a matter of public record.

Which of the Following Situations Would Not Result in Restricted