The most common type of audit report is the 'standard unmodified audit report'.It is used when which three of the following conditions have been met?
1) The financial report is presented fairly, in all material respects, in accordance with the applicable financial reporting framework (usually Australian accounting standards) .
2) The financial report is presented fairly, in all material respects, in accordance with the relevant statutory requirements (usually the Corporations Act) .
3) The financial information complies with relevant statutory and other requirements.
4) The view presented by the financial report is consistent with the auditor's understanding of the entity and its environment.
A) 1, 3, 4
B) 2, 3, 4
C) 1, 2, 3
D) 1, 2, 4
Correct Answer:
Verified
Q3: The audit report date indicates the:
A) last
Q4: The appropriate date for the audit report
Q5: In the auditor's responsibility paragraph of the
Q6: ASA 700 requires that the title of
Q7: Auditing standards require that an audit report
Q9: Under certain circumstances, the auditor is required
Q10: What condition requires departure from an unmodified
Q11: The introductory paragraph of the standard unmodified
Q12: Which auditing standard requires an expression of
Q13: The auditor's conclusions are stated as opinion
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