An Auditor Is Not Required to Tell the Reader of an Audit

question 50

True/False

An auditor is not required to tell the reader of an audit report when there has been a change in accounting principles that materially affects the financial statements.

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Definitions:

Two-way Exchange

A process in which information or resources are reciprocally shared or traded between parties.

Destination

The intended end point or goal of a journey or an effort.

Feedback

Information provided as a response to a process or activity, used as a basis for improvement, learning, or performance adjustment.

Richness

The quality or state of being abundant or in great quantities, often used in the context of material wealth, cultural wealth, or biodiversity.