When Other Information Is Presented in a Document with Audited

question 35

Multiple Choice

When other information is presented in a document with audited financial statements,the auditors' report should

• A) state that the auditor read the other information for inconsistencies and misstatements with the financial statements and identified no discrepancies.
• B) provide limited assurance as to whether the other information is presented in accordance with generally accepted accounting principles.
• C) reference the other information only if inconsistencies or material misstatements are identified between this information and the financial statements.
• D) be expanded to express an opinion that the other information is consistent with the financial statements and not materially misstated.

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Definitions:

Adaptation

The process of adjusting or changing to fit new conditions or environments.

Top-down Change

Organizational change initiatives that are initiated and managed by top-level management, often requiring changes to be implemented through various levels of the organization.

Lower-level Personnel

Employees who occupy positions at the bottom tiers of an organizational hierarchy, typically involved in operational or support roles.

Excessive Resistance

A situation where there is an abnormally high level of opposition or pushback, often detrimental to progress or change management efforts.