Significant findings are to be documented by the auditor,including actions taken to address them and the basis for the final conclusion reached.Findings that might be significant include
A)accounting for complex or unusual assertions or accounting predictions
B)results of audit procedures indicating that the financial statements or disclosure are not misstated or the need for an auditor to revise his previous assessment of the risk of misstatement
C)circumstances that made it relatively easy for the auditor to apply auditing procedures
D)findings that could result in modifications to the auditor's report
E)adjustments that the auditor has proposed to the financial statements
F)both A and C
G)both B and D
H)Both D and E

Question

Quizplus · Accepted Answer

Significant findings typically include complex accounting issues (A), adjustments proposed by the auditor (E), and findings that could lead to modifications in the auditor's report (D). Choices B and C are incorrect because results indicating no misstatement or circumstances making it easy to apply procedures are not typically considered significant findings.

Significant Findings Are to Be Documented by the Auditor,including Actions