Audit Report

Question 1

1. While expressing an unmodified opinion on financial statements, the auditor shall not use which of the following phrases?...

A) present fairly in all material respects

B) give a true and fair view

C) with the foregoing explanation ✓

D) All of the above 2. …………………… is a paragraph included in the auditor’s report tha...

Question 2

2. Statement 1: Communicating key audit matter in the auditor’s report constitutes a substitute for disclosure in the financial statements. Statement 2: Instead of modifying an opinion in accordance with...

A) Only Statement 1 is correct

B) Only Statement 2 is correct

C) Both the statements are correct

D) None of the statement is correct ✓

Question 3

3. Which of the following is not correct?...

A) SA 700 - Forming an Opinion and Reporting on the Financial Statements

B) SA 701- Key Audit Matters in the Independent Auditor’s Report

C) SA 705- Comparative Information- Corresponding figures and Comparative Financial... ✓

D) SA 706- Emphasis of Matter Paragraphs and Other Matter Paragraphs in the Indepen...

Audit Report

Sample Questions: Auditing