Both the auditor and the client work to avoid a report reservation.

Question

Quizplus · Accepted Answer

Both the auditor and the client aim to present accurate financial statements and disclosures, which can help in avoiding report reservations or modifying an audit report to express a qualified opinion. The auditor's responsibility is to obtain sufficient evidence about the financial statements and related disclosures, while the client's management has the primary responsibility for preparing and presenting the financial statements in accordance with the applicable financial reporting framework. By working collaboratively and addressing any issues or uncertainties that might arise during the audit, both parties can strive to maintain the quality and integrity of the audit process and avoid any report reservations.

Both the Auditor and the Client Work to Avoid a Report