Standard unqualified audit report

Reference no: EM1355006

AICPA professional standards provide uniform wording for the standard unqualified audit report. For each of the seven parts:

1-List the specific report parts.

2-Identify the contents of each part.

3-Determine if a qualified opinion, adverse opinion, or a disclaimer of opinion would be issued for each of the above occurrences.

Write a brief statement with the appropriate wording.

1-Assume the following occurred during the audit at ABC Corp:

2-ABC Corp's management restricted the auditors by not allowing them to confirm the raw material receivables.

3-Management members valued fixed assets at their replacement cost.

The lead auditor was the nephew of a member of the board of directors.

Reference no: EM1355006

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