Asked by Hannah Kristen on Jun 06, 2024
Verified
An auditor issues an audit report that expresses three opinions.Which of the following is not one of those opinions?
A) whether management's assessment of the company's internal control over its financial reporting is appropriate
B) whether management's assessment that the financial statements are based upon the proper use of GAAP
C) whether the company maintained effective internal control over its financial reporting
D) whether the company's financial statements present fairly the results of operations and cash flows in conformity with GAAP
Audit Report
A document prepared by an auditor which expresses an opinion on whether financial statements are presented fairly, in all material aspects, in accordance with the applicable financial reporting framework.
Financial Reporting
The method of generating reports that reveal a company's financial condition to its managers, investors, and governmental agencies.
GAAP
Generally Accepted Accounting Principles; a collection of commonly-followed accounting rules and standards for financial reporting.
- Discern the evaluations provided by auditors on how well the financial statements adhere to Generally Accepted Accounting Principles.
Verified Answer
Learning Objectives
- Discern the evaluations provided by auditors on how well the financial statements adhere to Generally Accepted Accounting Principles.
Related questions
Which of the Following Auditor Opinions Would Be Appropriate When ...
If the Information Contained in the Financial Statements Is Not ...
The Report on Internal Control Required by the Sarbanes-Oxley Act ...
Which of the Following Is Not Included in Comprehensive Income ...
A Reader of a Set of Financial Statements Would Expect ...