Explain the type of auditor report to be issued

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Reference no: EM132700029

Food Fund Foundation, a charity, is a non-reporting entity of which your firm has performed the audits for a couple of years. The financial statements are prepared by another firm of accountants on behalf of Food Fund Foundation's board of directors, because it does not have the in-house expertise to perform this function. During your review of the internal control structure, you noted that the company did not have sufficient controls over the collection of income to enable you to be satisfied that all income received was recorded. However, you have been satisfied that the company has correctly accounted for all income recorded.

Question 1: Explain the type of auditor's report to be issued for each of the above situations (in your answer, refer to relevant audit standards).

Reference no: EM132700029

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