Blue, CPA, has been asked to render an opinion on the application of accounting principles to a specific transaction by an entity that is audited by another CPA.Blue may accept this engagement, but should:
The financial statements of KCP America, a U.S. entity, are prepared for inclusion in the consolidated financial statements of its non-U.S. parent. These financial statements are prepared in conformity with the accounting principles generally accepted in the parent's country and are for use only in that country.How may KCP America's auditor report on these financial statements?I. A U.S.-style report (unmodified).II. A U.S.-style report modified to report on the accounting principles of the parent's country.III. The report form of the parent's country.
Which of the following is true regarding the auditor's responsibility to report on information accompanying the basic financial statements in a client-prepared document?
Which of the following reporting options is least likely with regard to supplementary information that is required by GAAP?
