Identify the Specific Generally Accepted Auditing Standard for Each One

question 71

Essay

Identify the specific generally accepted auditing standard for each one of the following descriptions.
1.The report shall either contain an expression of opinion regarding the financial statements, taken as a whole, or an assertion to the effect that an opinion cannot be expressed.
2.In all matters relating to the assignment, an independence in mental attitude is to be maintained by the auditor or auditors.
3.Sufficient competent evidential matter is to be obtained through inspection, observation, inquiries, and confirmations to afford a reasonable basis for an opinion regarding the financial statements under audit.
4.Due professional care is to be exercised in the performance of the audit and the preparation of the report.
5.The work is to be adequately planned, and assistants, if any, are to be properly supervised.
6.The report shall identify those circumstances in which such principles have not been consistently observed in the current period in relation to the preceding period.
7.The audit is to be performed by a person or persons having adequate technical training and proficiency as an auditor.
8.Informative disclosures in the financial statements are to be regarded as reasonably adequate unless otherwise stated in the report.
9.A sufficient understanding of the internal control structure is to be obtained to plan the audit and to determine the nature, timing, and extent of tests to be performed.
10.The report shall state whether the financial statements are presented in accordance with generally accepted accounting principles.

---

Definitions:

Psychological Evaluation

An assessment conducted by a mental health professional to diagnose and understand an individual's mental health condition.

Pretend Play

A form of play in which children imagine and act out scenarios, often involving role-play and use of imagination.

Attachments

In a medical or psychological context, attachments refer to the bonds or connections between individuals, or to devices or accessories used in medical procedures.

8-month-old

Refers to an infant who has reached the age of eight months, a period in child development marked by significant growth and developmental milestones.