An Emphasis of Matter Section in an Audit Report Is

question 19

Multiple Choice

An emphasis of matter section in an audit report is:

• A) not a qualification.
• B) a qualification.
• C) an adverse opinion.
• D) used very commonly

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Definitions:

Capital Balances

Refer to the cumulative amounts of money or value that partners or shareholders have contributed to a company, inclusive of earnings and minus any losses.

Profits and Losses

A financial statement that summarizes the revenues, costs, and expenses incurred during a specific period.

Billable Hours

The amount of an employee's work time that can be charged to a client, as in the context of professional services like legal advice or consultancy.

Capital Balance

Refers to the amount of money that a company's shareholders have invested in it.