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:

Listening Levels

The degrees of attentiveness and engagement in the act of listening, which can range from passive to active listening.

Objective Content

Information, data, or material presented without bias, and based on facts rather than opinions or interpretations.

Human Relations Skills

The ability to interact effectively and harmoniously with other people.

Generation Y

Also known as Millennials, the demographic cohort following Generation X, typically defined as those born from the early 1980s to the mid-1990s to early 2000s.