an auditor is reporting on financial statements prepared in accordance with a framework generally accepted in another country. the auditor most likely has the option of using a u.s. form of report or the report form of the other country if

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05-12-2022
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an auditor is reporting on financial statements prepared in accordance with a framework generally accepted in another country. the auditor most likely has the option of using a u.s. form of report or the report form of the other country if

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PinkiGhosh PinkiGhosh · Answer 1 · 2022-12-08T04:10:13-05:00

the financial statements have been materially misstatement by audit evidence. If the auditor determines that there are material but not pervasive errors in the financial statements, whether they be individual or aggregate, a qualified opinion is given.

How Do Financial Statements Work?

Financial statements are written records that outline a company's operations as well as its financial success. Government organizations, accounting firms, and other entities frequently audit financial statements to assure their accuracy and for reasons related to taxes, financing, or investment. The balance sheet, income statement, cash flow statement, and statement of changes in equity are the four basic financial statements used by for-profit organizations. Nonprofit organizations employ a comparable but distinct set of financial statements.

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