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Arthur Anderson
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Components of unqualified report?
Seven Parts of a Standard Unqualified Audit ReportThe seven parts of a standard unqualified audit report are the title, addressee, introductory paragraph, scope paragraph, opinion paragraph, name of auditor (CPA firm), and date of report. Following is a description of the contents of each part.1. Title - Public company reports are required to begin with a title that references the "Independent Registered Public Accounting Firm". Reports for nonpublic companies may contain titles such as "Independent Auditors Report, or "Report of the Independent Auditor".2. Addressee - This is the individual, group, entity, board of directors, and/or stockholders who retained the services of the auditor. 3. Introductory Paragraph - This paragraph must state three things: "which financial statements are covered by the report, that the statements are the responsibility of management, and that the auditor has a responsibility to express an opinion" (Messier et al., 2006, p. 50). 4. Scope Paragraph - This paragraph states what is involved in the audit. For public companies the scope paragraph states that the audit was performed in accordance with Public Company Accounting Oversight Board (PCAOB) standards, and for nonpublic companies it states that the audit was performed in accordance with generally accepted auditing standards (GAAS). The scope paragraph must also state "that the audit provides only reasonable assurance that the financial statements contain no material misstatements,...that an audit involves an examination of evidence on a test basis,... 5. Opinion Paragraph - This paragraph expresses the auditor's opinion in regard to the fairness of the financial statements based upon evidence obtained through the audit.6. Name of Auditor - This is the name of the CPA firm that conducted the audit, along with a manual or printed signature of the auditor.7. Date of Report - This is "the date on which the auditor has completed all significant auditing procedures" (Messier et al., 2006, p. 52). Circumstances that Prevent Issuance of an Unqualified ReportThere are three specific circumstances that would prevent external auditors from issuing an unqualified report: scope limitation, departure from GAAP, and lack of independence of the auditor. Scope limitation results from the inability to gather adequate evidence. Departure from GAAP results from the fact that a departure from generally accepted accounting principles affects the financial statements. Lack of independence of the auditor refers to the fact that the auditor is not independent of the entity that he or she is auditing.
Difference between an accountant and a staff accountant?
Well, "Staff Accountant" is the name of a position whithin an accounting firm. After being a staff accountant you can become a Senior Staff Accountant, and then a Manager and ultimatelly a partner of the accounting firm. Whereas, an accountant is any person that works either in public or private accountancy.
What is the name of a person who checks accounts?
where is the aanswer
What is peach tree accounting?
Peachtree Accounting is the name of a computerized accounting software program.
what other name is the county auditor known?
Assessor <3krystal doesn't know anything
What are the content of engagement letters?
Name of the firm to be audited Name of the auditing firm or name of the auditor signatures of both parties involved dates duly signed
The name of a firm that starts with the letter b?
BDO Seidman (an accounting firm)
What are the content of the letter?
Name of the firm to be audited Name of the auditing firm or name of the auditor signatures of both parties involved dates duly signed
Components of unqualified report?
Seven Parts of a Standard Unqualified Audit ReportThe seven parts of a standard unqualified audit report are the title, addressee, introductory paragraph, scope paragraph, opinion paragraph, name of auditor (CPA firm), and date of report. Following is a description of the contents of each part.1. Title - Public company reports are required to begin with a title that references the "Independent Registered Public Accounting Firm". Reports for nonpublic companies may contain titles such as "Independent Auditors Report, or "Report of the Independent Auditor".2. Addressee - This is the individual, group, entity, board of directors, and/or stockholders who retained the services of the auditor. 3. Introductory Paragraph - This paragraph must state three things: "which financial statements are covered by the report, that the statements are the responsibility of management, and that the auditor has a responsibility to express an opinion" (Messier et al., 2006, p. 50). 4. Scope Paragraph - This paragraph states what is involved in the audit. For public companies the scope paragraph states that the audit was performed in accordance with Public Company Accounting Oversight Board (PCAOB) standards, and for nonpublic companies it states that the audit was performed in accordance with generally accepted auditing standards (GAAS). The scope paragraph must also state "that the audit provides only reasonable assurance that the financial statements contain no material misstatements,...that an audit involves an examination of evidence on a test basis,... 5. Opinion Paragraph - This paragraph expresses the auditor's opinion in regard to the fairness of the financial statements based upon evidence obtained through the audit.6. Name of Auditor - This is the name of the CPA firm that conducted the audit, along with a manual or printed signature of the auditor.7. Date of Report - This is "the date on which the auditor has completed all significant auditing procedures" (Messier et al., 2006, p. 52). Circumstances that Prevent Issuance of an Unqualified ReportThere are three specific circumstances that would prevent external auditors from issuing an unqualified report: scope limitation, departure from GAAP, and lack of independence of the auditor. Scope limitation results from the inability to gather adequate evidence. Departure from GAAP results from the fact that a departure from generally accepted accounting principles affects the financial statements. Lack of independence of the auditor refers to the fact that the auditor is not independent of the entity that he or she is auditing.
Difference between an accountant and a staff accountant?
Well, "Staff Accountant" is the name of a position whithin an accounting firm. After being a staff accountant you can become a Senior Staff Accountant, and then a Manager and ultimatelly a partner of the accounting firm. Whereas, an accountant is any person that works either in public or private accountancy.
Roituad is a name of profession please arrange it?
auditor
What is the name of a person who checks accounts?
where is the aanswer
Which person are not qualified for the appointment as auditor of the company under the companies ordinance 1984?
) A person shall not be qualified far appointment as an auditor,-(i) in the case of a public company or private company which is subsidiary of a public company unless he is a Chartered Accountant within the meaning of the Chartered. Accountants Ordinance, 1961 (X of 1961); and(ii) in the case of a private company having paid up capital of three million rupees or more unless he is a Chartered accountant within the meaning of the Chartered Accountants Ordinance, 1961(X of 1961).(2) A firm where if all the partners practicing in Pakistan are Chartered Accountants may be appointed by its firm name as auditors of a company referred to in subsection (1) and may act in its firm name.(3) None of the following persons shall be appointed as auditor of a company, namely:-(a) a person who is, or at any time during the preceding three years was, a director, other officer or employee of the company;(b) a person who is a partner of or in the employment of, a director, officer or employee of the company;(c) the spouse of a director of the company;(d) a person who is indebted to the company;[ ](e) a body corporate; and(f) a person or his spouse or minor children, or in case of a firm, all partners of such firm who holds any shares of an audit client or any of its associated companies:Provided that if such a person holds shares prior to his appointment as auditor, whether as an individual or a partner in a firm the fact shall be disclosed on his appointment as auditor and such person shall disinvest such shares within ninety days of such appointment.Explanation. - Reference in this section to an "officer" or "employee" shall be construed as not including reference to an auditor.(4) A person shall also not be qualified for appointment as auditor of a company if he is, by virtue of the provisions of sub-section (3), disqualified for appointment as auditor of any other company which is that company's subsidiary or holding company or a subsidiary of that holding company.(5) If, after his appointment, an auditor becomes subject to any of the disqualifications specified in this section, he shall be deemed to have vacated his office as auditor with effect from the date on which he becomes so disqualified.(6) A person who, not being qualified to be an auditor of a company, or being or having become subject to any disqualification to act as such, acts as auditor of a company shall be liable to fine which may extend to twenty-five thousand rupees.(7) The appointment as auditor of a company of an unqualified person, or of a person who is subject to any disqualifications to act as such, shall be void, and, where such an appointment is made by a company, the Commission may appoint a qualified person in place of the auditor appointed by the company.
How do you find the local assessor's website?
Use a search engine... type in the name of your county and then auditor... Example Montgomery County Auditor
What is name of person trained to perform spiritual counseling in scientology?
auditor
What is peach tree accounting?
Peachtree Accounting is the name of a computerized accounting software program.
what other name is the county auditor known?
Assessor <3krystal doesn't know anything
