Home / CPA Course / AUD

Audit reports and opinions

AUD Chapter 26 · Area IV · Blueprint IV.A

Area IV is 10 to 20% of AUD and it is mostly recall driven by standard report wording. This chapter carries most of it: the four opinions, the two extra paragraphs, and the layout of the report for nonissuers and issuers. The Blueprint also asks you to determine the form and content of a report, which is where simulations come from.

In this chapter

1. Forming the opinion
2. Two problems, two questions, four opinions
3. How a modified report reads
4. Situation to report: one decision table
5. The nonissuer audit report, section by section
6. The issuer audit report
7. Emphasis of matter and other matter paragraphs
8. Going concern in the report

This chapter has 8 lessons, 50 practice MCQs with explanations and 14 simulations, plus flashcards and a recall sheet.

What this chapter covers

• Forming an opinion
• unmodified, qualified, adverse and disclaimer
• emphasis of matter and other matter paragraphs
• key and critical audit matters
• form and content of the report

Chapter 25: Written representations and subsequent events · Chapter 27: Reporting on internal control over financial reporting