In all cases in which auditors are associated by name or participation with unaudited financial statements of public entities,the auditors must issue a disclaimer of opinion.

Question

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This is required by the Generally Accepted Auditing Standards (GAAS) for auditors to issue a disclaimer of opinion when they are associated by name or participation with unaudited financial statements of public entities. This is to avoid any misconception that their participation in the preparation of financial information implies that they have audited or certified the information presented.

In All Cases in Which Auditors Are Associated by Name