Chap018 - Chapter 18 Reports on Audited Financial...

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Unformatted text preview: Chapter 18 - Reports on Audited Financial Statements Chapter 18 Reports on Audited Financial Statements Learning Objectives Review Questions Multiple- Choice Questions Problems Discussion Cases ACL Problems LO 1 : Understand the various components of the standard unqualified financial statement audit report. 1 10,11,12 22,23,27, 28 LO 2: Know the situations that result in the addition of explanatory language to the standard unqualified audit report. 2 10,11,12, 13 22,23,24, 25, 29 LO 3: Be able to explain the conditions that lead to a departure from the standard unqualified audit report. 3 14,15,16 22,23,25, 27 LO 4 : Know the types of financial statement audit reports other than unqualified. 14,15, 16 22,23,25, 27 LO 5: Be able to explain the effect of materiality on the auditor’s choice of audit reports. 3, 4 15,16 LO 6 : Understand the situations that may cause different types of reports on comparative financial statements. 5 17,18 25,27 LO 7: Know the auditor’s responsibility for other information in documents containing audited financial statements. 6,7 19 LO 8 : Understand the auditor’s reporting responsibility for financial statements prepared on a comprehensive basis other than GAAP. 8,9 20 22,23,26, 28 LO 9: Understand the auditor’s responsibility for reporting on specified elements, accounts, or terms of a financial statement. 8 21 LO 10: Understand the auditor’s reporting responsibility for compliance with contractual agreements or regulatory requirements related to financial statements. 8 Applying audit information technology tools ACL 18-1 END OF CHAPTER MATERIALS COMPARISION CHART Number in 7 th edition Compariso n Number in 6 th edition 18-1 Unchanged 18-1 18-2 Revised 18-2 18-3 Unchanged 18-3 18-4 Revised 18-4 18-5 Revised 18-5 18-6 Unchanged 18-6 18-7 Unchanged 18-7 18-8 Unchanged 18-8 18-9 Revised 18-9 18-10 Unchanged 18-10 18-11 Revised 18-11 18-12 Unchanged 18-12 18-13 Replaced 18-13 18-14 Revised 18-14 18-15 Revised 18-15 18-16 Revised 18-16 18-17 Revised 18-17 18-18 Unchanged 18-18 18-19 Unchanged 18-19 18-20 Revised 18-20 18-21 Revised 18-21 18-22 Revised 18-22 18-23 Revised 18-23 18-24 Revised 18-24 18-25 Revised 18-25 18-26 Revised 18-26 18-27 Revised 18-27 18-28 Revised 18-28 18-29 Revised 18-29 18-2 Chapter 18 - Reports on Audited Financial Statements Chapter 18 covers the reporting standards for audited financial statements. For a first auditing course, we cover Learning Objectives 1-5, which relate to basic audit reporting. We usually cover the remaining topics on special reporting issues in a second audit class....
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Chap018 - Chapter 18 Reports on Audited Financial...

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