70.2K

Verified Solution

Link Copied!

Compare the wording in the standard unmodified opinion audit report for a non-public entity under AlCPA auditing standards with the wording for a public company audit under PCAOB auditing standards. How are the reports similar? How are they different? The standard unmodified report for a non-public entity under AICPA auditing standards and the standard unqualified report for a public company under PCAOB auditing standards | | very similar in substance. The introductory paragraphs are similar, although the | In contrast, the report for 1 These the paragraphs provide additional information on the nature of these responsibilities. The scope paragraphs in each report are similar. However, there are differences in the description of the The report for the non-public company indicates that the The report procedures are for the procedures and not for the purpose of expressing an opinion on internal control. The content of the opinion paragraph is | company also indicates that the auditor considers internal control in designing the audit | for a non-public entity and a public entity. Compare the wording in the standard unmodified opinion audit report for a non-public entity under AlCPA auditing standards with the wording for a public company audit under PCAOB auditing standards. How are the reports similar? How are they different? The standard unmodified report for a non-public entity under AICPA auditing standards and the standard unqualified report for a public company under PCAOB auditing standards | | very similar in substance. The introductory paragraphs are similar, although the | In contrast, the report for 1 These the paragraphs provide additional information on the nature of these responsibilities. The scope paragraphs in each report are similar. However, there are differences in the description of the The report for the non-public company indicates that the The report procedures are for the procedures and not for the purpose of expressing an opinion on internal control. The content of the opinion paragraph is | company also indicates that the auditor considers internal control in designing the audit | for a non-public entity and a public entity

Answer & Explanation Solved by verified expert

See Answer