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L20 Notes_Part_18 - an opinion on them Chapter 15 P5 Audit...

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Chapter 15 - P5: Audit Reports For each of the following situations that require an audit report other than the standard, unqualified one: (1) determine what type of audit report is called for, (2) state where in the audit report changes would have to be made and (3) make the changes. Be specific. a. The accountant merely compiles the financial statements based on management’s representations. No audit work is performed at all. a. A disclaimer report with the following inserted in the scope/opinion paragraph: The accompanying financial statements for THE CLIENT as of THE DATE were not audited by us. Consequently, we do not express
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