ACCT 107 Lecture Notes - Lecture 1: Limited Liability Partnership, Form 10-Q, Financial Statement
6 Oct 2020
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Document Summary
Done by a competent and independent person. Legal rights to perform audits is granted to cpa firms by each state. Limited liability partnership is the most prominent. When company plans to issue a new security. Work to improve the uniformity of auditing practices and related services throughout the world. International standards on auditing apply only to entities outside of the u. s. Generally accepted auditing standards apply only to private entities. Pcaob auditing standards apply only to public companies and other sec registrants. Standard unqualified (consistent with standard) audit report. Unqualified with explanatory paragraph or modified wording. Complies with the three standards of field work. No circumstances require an explanatory paragraph or report modification. Auditors of public companies subject to section 404 of sox must report on the. Pcaob auditing standard 5 requires the audit of internal control to be integrated. Reporting on internal control over financial reporting.
