When a public accounting firm issues a report on financial statements that are issued on an other comprehensive basis of accounting, this special report includes an opinion paragraph identical to an adverse opinion.

Question

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When a public accounting firm issues a report on financial statements that are issued on an other comprehensive basis of accounting, there is not necessarily an opinion paragraph identical to an adverse opinion. The opinion will depend on the specific circumstances and the information presented in the financial statements.

When a Public Accounting Firm Issues a Report on Financial