Which of the following best describes the conclusions an auditor makes in an integrated audit that results in an audit report that is unqualified?
A) The financial statements are fair according to GAAP.
B) The financial statements are free of material misstatement based on U.S. GAAP and management's report on internal control over financial reporting states that there are no material weaknesses.
C) The financial statements and internal control over financial reporting are materially correct.
D) The financial statements are free of material misstatement based on U.S. GAAP and based on the audit, the auditor agrees with management's report that internal control over financial reporting is effective and does not have any material weaknesses.
Correct Answer:
Verified
Q23: Financial statements must be prepared:
A) in accordance
Q24: The audit engagement team consists of:
A) more
Q25: Which of the following organizations is considered
Q26: Which of the following is an assertion?
A)
Q27: Assertions are:
A) audited by the auditors.
B) declarations
Q29: A public company must:
A) register with the
Q30: Auditing is defined as a:
A) set pattern
Q31: The auditor:
A) prepares the financial statements after
Q32: Errors in financial statements are:
A) never material.
B)
Q33: An integrated audit results in:
A) an audit
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents