Question

Which of the following is not included in an integrated audit report on the financial statements...

Which of the following is not included in an integrated audit report on the financial statements of a public company?

The report states that the audit was performed in accordance with AICPA standards.
The report indicates that the financial statements are the responsibility of management.
The report inidcates that the auditors have also audited the effectiveness of the company's internal control.
The report is signed in the name of the CPA firm.
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Answer #1

The report states that the audit was performed in accordance with AICPA standards.

An integrated audit report on the financial statements of a public company states that the audit was performed in accordance with Public Company Accounting Oversight Board standards, not AICPA standards.The report states that the audit was performed in accordance with AICPA standards. An integrated audit report on the financial statements of a public company states that the audit was performed in accordance with Public Company Accounting Oversight Board standards, not AICPA standards.

The PCAOB is directed by the Sarbanes-Oxley Act of 2002 to establish auditing and related professional practice standards for registered public accounting firms to follow in the preparation and issuance of audit reports.

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