Question

Which of the following are required to be included in an audit report under the Standards of the PCAOB?

the name of the audit partner responsible for the audit

the signature of the audit firm that issued the audit report

statement that the firm is a member of the AICPa

All above

2. The auditor was unable to audit a portion of the financial statements that was very highly material. If the audit client insists that the auditor issue a report on those financial statements, the auditor should

3. The auditor identified a misstatement in the financial statements that was material but not pervasive. If management fails to correct the misstatement, the auditorÕs report on those financial statements should include

4. The auditor concluded that it was necessary to include an extra paragraph in its audit report to describe certain important information already included in the companyÕs financial statements. This is referred to as:

Answer 1

1. All the above ,are required to be included in audit report under AS 3101

2. Auditor should give "Disclaimer of Opinion".

The auditor shall disclaim an opinion when, Inability to Obtain Sufficient Appropriate Audit Evidence Due to a Management-Imposed Limitation after the Auditor Has Accepted the Engagement

3. Auditor should give Qualified Opinion.

The Auditor Qualified his report when he is Detemined that he obtain SAAP and  except few Assertion those did not have singinficate impact on Financial Statement. Financial Statement present true and fair view of entity transation and Financial Position.

4 that Para is refer as " Empasis of Matter"

"Empasis of Matter" para added by auditor when all facts are presented in Financial statement but auditor want to give an highlight to a particular Matter/ Para so that it is easily consider by Stakeholder while analysis the Financial Statement