Carlos
“The auditor’s report must include the title, “Report of Independent Registered Public Accounting Firm; the auditor performs an integrated audit and issues separate reports on the company’s financial statements and internal control over financial reporting; and a statement that the financial statements are the responsibility of the company’s management.” (PCAOB, 2018) Therefore the three primary differences between the audit report for nonpublic entities and the one for public entities are that public entities are that public entities need to have registered in the tittle to ensure the professionalism of the accounting firm, include a paragraph that the auditor went over the public entities internal controls to see that the internal controls are actually effective or not and a short statement that goes over the public companies management’s responsibilities to ensure that the company is working in the most professional way. Even though there are various differences in audit reports between nonpublic and public entities, it is very important to distinguish the differences to be able to ensure that you are making the auditing reports properly with the correct information.
Word Count: 180
Reference
PCAOB. (2018). AS 3101: The Auditor’s Report on an Audit of Financial Statements When the Auditor Expresses an Unqualified Opinion Title Footnote. Retrieved February 19, 2018, from https://pcaobus.org/Standards/Auditing/Pages/AS3101.aspx
Reply Email Author
Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.
Read moreEach paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.
Read moreThanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.
Read moreYour email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.
Read moreBy sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.
Read more