auditors who are reporting on financial statements that contain a material departure from gaap should:

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19-12-2022
Business

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auditors who are reporting on financial statements that contain a material departure from gaap should:

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Tutorconsortium509 Tutorconsortium509 · Answer 1 · 2022-12-24T01:31:17-05:00

Financial statements that significantly deviate from generally accepted accounting rules should to be accompanied by an additional paragraph and a qualified or unfavorable statement of opinion.

What is an auditor's function?

In order to obtain a reasonable assurance on the absence of a significant misrepresentation, either brought on by error or fraud the auditor has a role to plan and conduct the audit.

Is an auditor also an Accountant?

A specialized accountant known as an auditor reviews financial statements and verifies the quality of those other accountants' work. Generally speaking, auditors work in two contexts: External auditors are employed to carry out an audit of a corporation from the outside. There are numerous people working for independent accounting firms.

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