Written reports are required and should include these

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Written reports are required and should include these elements: description of the nature of the engagement and a statement that it was performed in accordance with standards for such engagements statement of relevant facts and assumptions, and the sources of information statement of the advice—the conclusion about appropriate accounting principles or the type of audit report, including reasons for the conclusions, if appropriate statement that a company’s management is responsible for proper accounting treat- ments, in consultation with its own auditors statement that any differences in facts, circumstances, or assumptions might change the conclusions The purpose of the section 7600 standards is to impose some discipline on the process of shopping/consultation and to make it more diffi cult for companies to seek out a “willing” auditor.
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