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Responsibilities of an auditor

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In 80 words or more, please explain the responsibilities an auditor has for reporting interim information.

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When auditors report interim information, they are reporting information that has three distinct qualities - (1) it is material to the business, (2) it is free of fraud or omission to the best knowledge ...

Solution Summary

This solution explains the responsibilities of an auditor in reporting and handling interim financial information.

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Management Responsibilities and Auditors Responsibilities

See attached for the Report of Management.

a. What are the purposes of the two reports and who was responsible for writing each?
b. What information does the report of management provide to users of financial statements
c. Explain the purpose of the audit committee as described in the fourth paragraph of management's report. What is the relevance of the phrase "which has only outside directors"?
d. Is the audit report a standard wording unqualified, qualified - except for, or something else? Explain your answer
e. How long after the balance sheet date did the CPA firm complete the audit field work?

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