An Auditor's Report on Financial Statements Prepared in Accordance with a Special

question 38

Multiple Choice

An auditor's report on financial statements prepared in accordance with a special purpose financial reporting framework of accounting other than generally accepted accounting principles should include all of the following except:

• A)Reference to the note to the financial statements that describes the basis of preparation of the financial statements.
• B)Disclosure that the audit was performed in accordance with generally accepted auditing standards.
• C)An opinion as to whether the basis of accounting used is appropriate under the circumstances.
• D)An opinion as to whether the financial statements are presented fairly in conformity with the basis of accounting described.

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Definitions:

Motor Vehicle Accident

An incident involving a collision or other mishap involving vehicles such as cars, motorcycles, or trucks, often resulting in damage or injury.

Trial

A formal examination of evidence by a judge, and typically a jury, in order to determine guilt or innocence in a case of law.

Moot

A term used to describe a case, argument, or problem that has become irrelevant or academic, thus not requiring a practical resolution.

Summary Judgment

A legal determination made by a court without a full trial when no material facts are in dispute, allowing for a decision on the legal issues.