Question
The opinion section of the auditor report shall _____
Read the following passage and answer the next 4 question (Q23-Q26) The purpose of an audit is to enhance the degree of confidence of intended users of the financial statements. The aforesaid purpose is achieved by the expression of an independent reporting by the auditor as to whether the financial statements exhibit a true and fair view of the affairs of the entity. Thus, an audit report is an opinion drawn on the entity’s financial statements to make sure that the records are true and fair representation of the transactions they claim to represent. This involves considering whether the financial statements have been prepared in accordance with an acceptable financial reporting framework applicable to the entity under audit. It is also necessary to consider whether the financial statements comply with the relevant statutory requirements. The main users of audit report are shareholders, members and all other stakeholders of the company. SA 700 (Revised) - “Forming an Opinion and Reporting on Financial Statements”, deals with the auditor’s responsibility to form an opinion on the financial statements. It also deals with the form and content of the auditor’s report issued as a result of an audit of financial statementsSolution
Auditor’s Opinion: The first section of the auditor’s report shall include the auditor’s opinion and shall have the heading “Opinion.” The Opinion section of the auditor’s report shall also: · Identify the entity whose financial statements have been audited; · State that the financial statements have been audited; · Identify the title of each statement comprising the financial statements; · Refer to the notes, including the summary of significant accounting policies; and · Specify the date of, or period covered by, each financial statement comprising the financial statements
Given below is a sentence in which four words are emboldened. The words may or may not be in their correct position. Rearrange the words if required an...
The best moments usually occur
P- to its limits in a voluntary effort to
Q- when a person’s body or mind is stretched
R- acco...
Directions: In each of the following questions, a sentence is given with three words marked as (A), (B), and (C). These words may or may not be placed ...
- In the questions given below, a sentence has been divided into four fragments (A), (B), (C) and (D) and is arranged (not necessarily in the correct order)....
Sentences of a paragraph are given below in jumbled order. Arrange the sentences in the right order to form a meaningful and coherent paragraph.
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Which of the following is the fourth sentence of the passage?
Which is the FOURTH sentence of the paragraph after rearrangement?
A. master plan is being amended, to
B. enforce the sealing, especially when the
C. courts should not yield to any pressure and
D. o...
- In the questions given below, a sentence has been divided into four fragments (A), (B), (C) and (D) and is arranged (not necessarily in the correct order)....
In the question below, a sentence is given, divided into parts and jumbled, which when arranged will form a logical and coherent sentence. One of the p...
