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LSU ACCT 3222 - Chapter 15 Final Exam Questions with 100% Correct Answers 2024

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LSU ACCT 3222 - Chapter 15 Final Exam Questions with 100% Correct Answers 2024 Components of unmodified opinion for PUBLIC co: (9) - answer1. Title ("registered" "independent") 2. Addressed to BOD and shareholders 3. Opinion paragraph (statements audited and opinion) 4. Audit of IC - effectiveness of ICFR 5. Basis for opinion - responsibilities and adherence to SEC requirements (GAAP) 6. Scope paragraph - process of audit 7. Signature (firm name and location) 8. Date - end of FW 9. Auditor tenure Components of unmodified opinion for PRIVATE co: (8) - answer1. Title - "independent" 2. Addressed to owners 3. Intro - identified FS audited 4. Mngmt's responsibility 5. Auditor's responsibility 6. Opinion 7. Signature (firm name and location) 8. Date - end of FW Instances when an explanation or modification must be added: - answer1. Consistency (AFTER the opinion paragraph) 2. Going concern (AFTER the opinion paragraph) 3. Emphasis of Matter (AFTER the opinion paragraph) 4. Opinion w other auditors (n

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