In which of the following types of reports do the auditors express negative assurance?
A)Reports on reviews of financial statements.
B)Reports on audits of financial statements on a basis other than generally accepted accounting principles.
C)Reports on audits of specified accounts.
D)Reports on summary financial statements.

Question

Quizplus · Accepted Answer

Auditors express negative assurance in reports on reviews of financial statements, which means that they provide limited assurance that material modifications to the financial statements are not required in order for them to be in accordance with generally accepted accounting principles. In other words, the auditors are not providing absolute assurance that the financial statements are free from material misstatements or errors. The other options (B, C, and D) do not involve negative assurance.

In Which of the Following Types of Reports Do the Auditors