Which of the Following Is Not One of the Reporting

question 33

Multiple Choice

Which of the following is not one of the reporting standards of GAAS that guides auditors in formulating the audit opinion?

• A) The financial statements have followed GAAP
• B) Consistency in the application of GAAP
• C) Adequate disclosures exist in the statements
• D) Gathering sufficient audit evidence to warrant an opinion

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Definitions:

Developed Countries

Nations with advanced industrial bases, high standards of living, and well-developed infrastructure.

American HR Publications

Publications originating from the United States that focus on human resources management and related disciplines.

Stakeholders

Individuals or groups with an interest or stake in the outcome of a project, business, or decision.

Constituent Groups

Groups of stakeholders or individuals that have a direct or indirect interest in an organization's activities and outcomes.