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:

Population

The entire group of individuals or instances about whom the data is collected for a statistical study.

Statistics

The science of collecting, analyzing, interpreting, and presenting data in order to make informed decisions based on numerical information.

Rewarding

Offering satisfaction, happiness, or benefit, especially in response to an action performed.

New Ways

Innovative methods or approaches to addressing challenges or problems.