When an Auditor Expresses an Opinion on the Financial Report

question 33

Multiple Choice

When an auditor expresses an opinion on the financial report, the auditor's responsibilities extend to:

• A)an ongoing responsibility for the entity's solvency in accordance with the requirements of the Corporations Act 2001.
• B)the underlying wisdom of the management's decisions.
• C)active participation in the implementation of advice given.
• D)whether the entity's results are fairly presented in the financial report in accordance with approved accounting standards.

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Definitions:

Standard Communication Model

A framework describing the process of transmitting information from sender to receiver through various channels and barriers.

Information

Data that is processed, organized, or structured in a given context to make it meaningful or useful.

Message

A piece of information or communication conveyed from one person or group to another, often through a medium such as speech, writing, or signals.

Standard Communication Model

A framework describing how information is transmitted from a sender to a receiver through various channels, overcoming barriers to effective communication.