Which of the Following Is Not Explicitly Stated in the Standard

question 138

Multiple Choice

Which of the following is not explicitly stated in the standard unqualified audit report?

• A) The financial statements are the responsibility of management.
• B) The audit was conducted in accordance with generally accepted accounting principles.
• C) The auditors believe that the audit provides a reasonable basis for their opinion.
• D) An audit includes assessing the accounting estimates used.

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Definitions:

Ethical Conduct

Behaviors and practices that comply with moral principles and professional standards, often guiding individuals and businesses in acting with integrity and fairness.

Self-Interest

Self-Interest describes actions or decisions motivated by personal gain, often without regard for others.

Moral Result

The outcome or impact of an action or decision judged according to ethical principles and moral values.

Utilitarianism

An ethical theory that promotes actions that maximize happiness and well-being for the majority of a population.