Describe two differences between Standard (clean) Audit Reports, one from AICPA and one from the PCAOB.

Expert Solution

AICPA Standard (Clean) Audit Report	PCAOB Standard (Clean) Audit Report
Under this audit report auditor gives opinion on providing assurance to stakeholders related to accuracy, realibilit of financial statement and the financial statements are free from material misstatement.	This audit is more intense and involve deep scrutinizing. This audit will have two opinion, one for financial statements and other ICFR, regarding the environment and effectiveness control.
This audit has a comparatively longer timeline and substantially lower in risk. It gives an opinion on integrity of the process also.	This audit has absolutely no jurisdiction over the process. This audit adopts a forward looking perspective to keep pace with changes in the financial environment and helps to ensure investor protection.
This audit gives its auditor friendly roots and has a distinctly less stringent focus.	This audit is more stringent.

ekkarill92 answered 3 years ago

Describe two differences between Standard (clean) Audit Reports, one from AICPA and one from the PCAOB.

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Describe two differences between Standard (clean) Audit Reports, one from AICPA and one from the PCAOB.

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Describe two differences between Standard (clean) Audit Reports, one from AICPA and one from the PCAOB.

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