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Maxixishere Pdf Collection
1.
Audited financial statements—the basics ........................................................................... 3
2.
Professional standards.................................................................................................... 4
3.
Reports on audited financial statements .......................................................................... 13
4.
Reports on comparative financial statements ................................................................... 41
5.
Events occurring after year-end ..................................................................................... 46
6.
Reporting on other information ...................................................................................... 50
7.
Appendix: GAAP sources for nongovernmental entities ...................................................... 58
8.
Simulation .................................................................................................................. 59
9.
Class questions ........................................................................................................... 71
Auditing & Attestation 1
Auditing & Attestation 1
Maxixishere Pdf Collection
A1-2
Maxixishere Pdf Collection
Auditing & Attestation 1
Becker CPA Review
AUDITED FINANCIAL STATEMENTS—THE BASICS
I.
THE INDEPENDENT AUDIT FUNCTION
A.
WHAT IS AN AUDIT?
An audit consists of a methodical review and objective examination of an enterprise's
financial statements. The objective of the auditor's examination is to express an opinion on
the financial statements. This expression takes the form of an audit report.
B.
RESPONSIBILITIES
The financial statements of an enterprise are prepared by the management of the enterprise,
not by the independent auditor. Further, the financial statements are the product and
property of the enterprise; the independent auditor merely...