n - Question 1.1(TCO A What is the relationship between U S AND International Auditing Standards Solution International Standards on auditing are the

n - Question 1.1(TCO A What is the relationship between U S...

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Question 1.1. (TCO A) What is the relationship between U. S. AND International Auditing Standards?
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professional possessing the specialized skillsthe professional possessing thespecialized skillsAudit of Group Financial StatementsISA 600 does not permit the auditor’s report on the group financial statements to make reference to a component auditor unlessrequired by law or regulation to include such reference.Section 600, consistent with SAS No. 1 section 543, Part ofAudit Performedby Other Independent Auditors, as amended, permitsthe auditor, in the auditor’s report on the group financial statements, to makereference to the audit of a component auditorQuestion 2.2. (TCO B) Alan, a CPA is participating in an audit engagement of ABC Company. He has performed the audit and has determined that an unqualified opinion is to be issued but he would like to expand on the rationale for the unqualified opinion. Please describe the five situations in which an explanatory paragraph would be necessary in an unqualified opinion. Solution:Alan, a CPA is participating in an audit engagement of ABC Company. He has performed the audit and has determined that an unqualified opinion is to be issued but he would like to expand on the rationale for the unqualified opinion. There are few situations or circumstances in which
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