ASA 700 requires that the title of the audit report:
A) indicate whether the author is a member of a professional body.
B) not include any discriminatory language.
C) indicate whether the author is a proprietorship, partnership, or incorporated.
D) include the word 'independent'.

Question

Quizplus · Accepted Answer

ASA 700 requires that the title of the audit report must include the word 'independent' to emphasize the independence of the auditor in providing an unbiased opinion on the financial statements. Option A, B, and C are not specifically required by the standard.

ASA 700 Requires That the Title of the Audit Report