What Is the Auditors' Responsibility for Reporting on Other Information

question 55

Multiple Choice

What is the auditors' responsibility for reporting on other information accompanying financial statements?

• A)Because this information is not a fundamental part of the financial statements, the auditors have no reporting responsibility with respect to this information.
• B)Auditors are required to report on the consistency of other information with the audited financial statements.
• C)Auditors are required to provide reasonable assurance with respect to whether the other information is presented in accordance with generally accepted accounting principles.
• D)Auditors are required to express an opinion on whether the other information is presented in accordance with generally accepted accounting principles.

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Definitions:

Rarely Lie

The tendency to speak the truth or present facts most of the time, with falsehoods being an exception.

Miscommunication

A failure to communicate effectively, leading to misunderstandings or confusion.

Content

The information and experiences that are directed towards an end-user or audience.

Emotive Words

Words that are used to elicit certain emotions.