An auditor includes a separate paragraph in an otherwise unmodified financial statement
audit report to emphasize that the entity being reported upon had significant
transactions with related parties. The inclusion of this separate paragraph
- Is appropriate and would not negate the unmodified opinion.
- Is considered an \"except for\" qualification of the opinion.
- Violates generally accepted auditing standards if this information is already disclosed in footnotes to the financial statements.
- Necessitates a revision of the opinion paragraph to include the phrase \"with the foregoing explanation.
Accounting
A. Is appropriate and would not negate the unmodified opinion.
need an explanation for this answer? contact us directly to get an explanation for this answer