Which of the following is not explicitly included in an audit report for a nonpublic company? A)A statement that the auditor believes that the audit provides a reasonable basis for expressing negative assurance. B)A statement that the auditor's responsibility is to express an opinion on the financial statements. C)A statement that the financial statements are the responsibility of management. D)A title with the word "independent."

Question

Quizplus · Accepted Answer

An audit report typically does not include a statement expressing negative assurance. Instead, it provides positive assurance that the financial statements are presented fairly in all material respects. Negative assurance is more commonly associated with review reports, not audits.

Which of the Following Is not Explicitly Included in an Audit