An Opinion Based in Part on the Report of Another

question 26

True/False

An opinion based in part on the report of another auditor requires an explanatory/emphasis-of-matter paragraph be added to the standard unqualified/unmodified audit report.

---

Definitions:

Relevant

Information or data that is applicable to the current situation and is useful for decision-making purposes.

Neutral

A term indicating impartiality or lack of bias, often used in various contexts.

Monetary Unit Assumption

Accounting information should be measured and reported in the national monetary unit without any adjustments for changes in purchasing power.