SlideShare ist ein Scribd-Unternehmen logo
1 von 1
When financial statements are presented in comparative form and another firm audited the prior-
years financial statements (but the other firms report is not presented with the financial
statements), the auditors report on the current-year financial statements should
A.) Refer to any procedures performed by the current auditor to verify the opinion on the prior-
years financial statements.
B.) Not refer to the prior-years financial statements.
C.) Refer to the report and type of opinion issued by the other firm on the prior-years financial
statements.
D.) Disclaim an opinion on the prior-years financial statements.
Solution
The answer is:
C.) Refer to the report and type of opinion issued by the other firm on the prior-years
financial statements.
This is done to maintain continuity from one years report to the next.

Weitere ähnliche Inhalte

Ähnlich wie When financial statements are presented in comparative form and anothe.docx

1..acc 421 acc421 final exam correct 100%
1..acc 421 acc421 final exam correct 100%1..acc 421 acc421 final exam correct 100%
1..acc 421 acc421 final exam correct 100%
Euroday
 
Acc 421 acc421 final exam correct 100%
Acc 421 acc421 final exam correct 100%Acc 421 acc421 final exam correct 100%
Acc 421 acc421 final exam correct 100%
flyperhan
 
(New) acc 421 acc421 final exam entire answers with questions correct 100%
(New) acc 421 acc421 final exam entire answers with questions correct  100%(New) acc 421 acc421 final exam entire answers with questions correct  100%
(New) acc 421 acc421 final exam entire answers with questions correct 100%
twiter343r
 
Acc 421 acc421 final exam correct 100%
Acc 421 acc421 final exam correct 100%Acc 421 acc421 final exam correct 100%
Acc 421 acc421 final exam correct 100%
sharing3444
 
Acc 421 acc421 final exam correct 100%
Acc 421 acc421 final exam correct 100%Acc 421 acc421 final exam correct 100%
Acc 421 acc421 final exam correct 100%
largest433
 
Acc 421 acc421 final exam correct 100%
Acc 421 acc421 final exam correct 100%Acc 421 acc421 final exam correct 100%
Acc 421 acc421 final exam correct 100%
singup22
 
Pci media impact 12-31-2014 a-133 financial statements [final]
Pci media impact 12-31-2014 a-133 financial statements [final]Pci media impact 12-31-2014 a-133 financial statements [final]
Pci media impact 12-31-2014 a-133 financial statements [final]
PCIMediaImpact
 
2013년 3분기 검토보고서 en
2013년 3분기 검토보고서 en2013년 3분기 검토보고서 en
2013년 3분기 검토보고서 en
Hyundai Finance
 
Review reports 3 q2013 jp
Review reports 3 q2013 jpReview reports 3 q2013 jp
Review reports 3 q2013 jp
Hyundai Finance
 
Acc 421 acc/421 final exam 100% correct answers
Acc 421 acc/421 final exam 100% correct answersAcc 421 acc/421 final exam 100% correct answers
Acc 421 acc/421 final exam 100% correct answers
Gliven
 
PCI Media Impact 2013 Financial Statement
PCI Media Impact  2013 Financial StatementPCI Media Impact  2013 Financial Statement
PCI Media Impact 2013 Financial Statement
PCIMediaImpact
 
Acc 421 final exam 36 36 correct answers 100%
Acc 421 final exam 36 36 correct answers 100%Acc 421 final exam 36 36 correct answers 100%
Acc 421 final exam 36 36 correct answers 100%
eriks23
 

Ähnlich wie When financial statements are presented in comparative form and anothe.docx (20)

RS-17-030 - Annual Audit Report
RS-17-030 - Annual Audit ReportRS-17-030 - Annual Audit Report
RS-17-030 - Annual Audit Report
 
C. Finance (include the common-size statements and financial ratio.docx
C. Finance (include the common-size statements and financial ratio.docxC. Finance (include the common-size statements and financial ratio.docx
C. Finance (include the common-size statements and financial ratio.docx
 
Acc 421 final exam
Acc 421 final examAcc 421 final exam
Acc 421 final exam
 
PCI Media Impact Inc - 2015 FS and OMB Uniform Guidance
PCI Media Impact Inc - 2015 FS and OMB Uniform GuidancePCI Media Impact Inc - 2015 FS and OMB Uniform Guidance
PCI Media Impact Inc - 2015 FS and OMB Uniform Guidance
 
Revised audit report
Revised audit reportRevised audit report
Revised audit report
 
Ind as 34
Ind as 34Ind as 34
Ind as 34
 
1..acc 421 acc421 final exam correct 100%
1..acc 421 acc421 final exam correct 100%1..acc 421 acc421 final exam correct 100%
1..acc 421 acc421 final exam correct 100%
 
Acc 421 acc421 final exam correct 100%
Acc 421 acc421 final exam correct 100%Acc 421 acc421 final exam correct 100%
Acc 421 acc421 final exam correct 100%
 
(New) acc 421 acc421 final exam entire answers with questions correct 100%
(New) acc 421 acc421 final exam entire answers with questions correct  100%(New) acc 421 acc421 final exam entire answers with questions correct  100%
(New) acc 421 acc421 final exam entire answers with questions correct 100%
 
Acc 421 acc421 final exam correct 100%
Acc 421 acc421 final exam correct 100%Acc 421 acc421 final exam correct 100%
Acc 421 acc421 final exam correct 100%
 
Acc 421 acc421 final exam correct 100%
Acc 421 acc421 final exam correct 100%Acc 421 acc421 final exam correct 100%
Acc 421 acc421 final exam correct 100%
 
Acc 421 acc421 final exam correct 100%
Acc 421 acc421 final exam correct 100%Acc 421 acc421 final exam correct 100%
Acc 421 acc421 final exam correct 100%
 
Pci media impact 12-31-2014 a-133 financial statements [final]
Pci media impact 12-31-2014 a-133 financial statements [final]Pci media impact 12-31-2014 a-133 financial statements [final]
Pci media impact 12-31-2014 a-133 financial statements [final]
 
2013년 3분기 검토보고서 en
2013년 3분기 검토보고서 en2013년 3분기 검토보고서 en
2013년 3분기 검토보고서 en
 
Review reports 3 q2013 jp
Review reports 3 q2013 jpReview reports 3 q2013 jp
Review reports 3 q2013 jp
 
Acc 421 acc/421 final exam 100% correct answers
Acc 421 acc/421 final exam 100% correct answersAcc 421 acc/421 final exam 100% correct answers
Acc 421 acc/421 final exam 100% correct answers
 
PCI Media Impact 2013 Financial Statement
PCI Media Impact  2013 Financial StatementPCI Media Impact  2013 Financial Statement
PCI Media Impact 2013 Financial Statement
 
Acc 421 final exam 36 36 correct answers 100%
Acc 421 final exam 36 36 correct answers 100%Acc 421 final exam 36 36 correct answers 100%
Acc 421 final exam 36 36 correct answers 100%
 
Financial statement analysis and financial models
Financial statement analysis and financial modelsFinancial statement analysis and financial models
Financial statement analysis and financial models
 
Financial Statement Analysis and Financial Models
Financial Statement Analysis and Financial ModelsFinancial Statement Analysis and Financial Models
Financial Statement Analysis and Financial Models
 

Mehr von todd571

Mehr von todd571 (20)

When Sequoia measured the sound from the tube open at both ends- the F.docx
When Sequoia measured the sound from the tube open at both ends- the F.docxWhen Sequoia measured the sound from the tube open at both ends- the F.docx
When Sequoia measured the sound from the tube open at both ends- the F.docx
 
When preparing a return involving a deduction for travel and entertain.docx
When preparing a return involving a deduction for travel and entertain.docxWhen preparing a return involving a deduction for travel and entertain.docx
When preparing a return involving a deduction for travel and entertain.docx
 
When KCI dissolved in water When KCI dissolved in waterSolutionAns -.docx
When KCI dissolved in water   When KCI dissolved in waterSolutionAns -.docxWhen KCI dissolved in water   When KCI dissolved in waterSolutionAns -.docx
When KCI dissolved in water When KCI dissolved in waterSolutionAns -.docx
 
When is a product more soluble in an organic solvent then in an aqueou.docx
When is a product more soluble in an organic solvent then in an aqueou.docxWhen is a product more soluble in an organic solvent then in an aqueou.docx
When is a product more soluble in an organic solvent then in an aqueou.docx
 
When firms seek funding to pay for resources for production- they can.docx
When firms seek funding to pay for resources for production- they can.docxWhen firms seek funding to pay for resources for production- they can.docx
When firms seek funding to pay for resources for production- they can.docx
 
When doing 1H-NMR- what is the chemical reason why an the hydrogen in.docx
When doing 1H-NMR- what is the chemical reason why an the hydrogen in.docxWhen doing 1H-NMR- what is the chemical reason why an the hydrogen in.docx
When doing 1H-NMR- what is the chemical reason why an the hydrogen in.docx
 
When discussing the security of SSO systems- which of the following is (3).docx
When discussing the security of SSO systems- which of the following is (3).docxWhen discussing the security of SSO systems- which of the following is (3).docx
When discussing the security of SSO systems- which of the following is (3).docx
 
When discussing the security of SSO systems- which of the following is.docx
When discussing the security of SSO systems- which of the following is.docxWhen discussing the security of SSO systems- which of the following is.docx
When discussing the security of SSO systems- which of the following is.docx
 
When equal moles of the following acids are dissolved in 1 L of H2O- w.docx
When equal moles of the following acids are dissolved in 1 L of H2O- w.docxWhen equal moles of the following acids are dissolved in 1 L of H2O- w.docx
When equal moles of the following acids are dissolved in 1 L of H2O- w.docx
 
When an organization starts to plan for business continuity and disast.docx
When an organization starts to plan for business continuity and disast.docxWhen an organization starts to plan for business continuity and disast.docx
When an organization starts to plan for business continuity and disast.docx
 
When discussing the security of SSO systems- which of the following is (2).docx
When discussing the security of SSO systems- which of the following is (2).docxWhen discussing the security of SSO systems- which of the following is (2).docx
When discussing the security of SSO systems- which of the following is (2).docx
 
When discussing the security of SSO systems- which of the following is (1).docx
When discussing the security of SSO systems- which of the following is (1).docxWhen discussing the security of SSO systems- which of the following is (1).docx
When discussing the security of SSO systems- which of the following is (1).docx
 
When an electron emits light energy and drops from the fourth to the t.docx
When an electron emits light energy and drops from the fourth to the t.docxWhen an electron emits light energy and drops from the fourth to the t.docx
When an electron emits light energy and drops from the fourth to the t.docx
 
When a liquid is placed in a sealed container- A) a set vapor pressure.docx
When a liquid is placed in a sealed container- A) a set vapor pressure.docxWhen a liquid is placed in a sealed container- A) a set vapor pressure.docx
When a liquid is placed in a sealed container- A) a set vapor pressure.docx
 
When a hydrate compound is heated- does the water get broken down into.docx
When a hydrate compound is heated- does the water get broken down into.docxWhen a hydrate compound is heated- does the water get broken down into.docx
When a hydrate compound is heated- does the water get broken down into.docx
 
What will happen to the Ksp value of Al(OH)3 when sodium hydroxide is.docx
What will happen to the Ksp value of Al(OH)3 when sodium hydroxide is.docxWhat will happen to the Ksp value of Al(OH)3 when sodium hydroxide is.docx
What will happen to the Ksp value of Al(OH)3 when sodium hydroxide is.docx
 
Which of the following can be used to create a VPN (Virtual Private Ne.docx
Which of the following can be used to create a VPN (Virtual Private Ne.docxWhich of the following can be used to create a VPN (Virtual Private Ne.docx
Which of the following can be used to create a VPN (Virtual Private Ne.docx
 
Which of the following are sources of lags in monetary policy- I- Con.docx
Which of the following are sources of lags in monetary policy-  I- Con.docxWhich of the following are sources of lags in monetary policy-  I- Con.docx
Which of the following are sources of lags in monetary policy- I- Con.docx
 
Which of the following are significant shortcomings with voluntary CSR.docx
Which of the following are significant shortcomings with voluntary CSR.docxWhich of the following are significant shortcomings with voluntary CSR.docx
Which of the following are significant shortcomings with voluntary CSR.docx
 
What various activities can be performed using IIS Manager-SolutionIIS.docx
What various activities can be performed using IIS Manager-SolutionIIS.docxWhat various activities can be performed using IIS Manager-SolutionIIS.docx
What various activities can be performed using IIS Manager-SolutionIIS.docx
 

Kürzlich hochgeladen

The basics of sentences session 3pptx.pptx
The basics of sentences session 3pptx.pptxThe basics of sentences session 3pptx.pptx
The basics of sentences session 3pptx.pptx
heathfieldcps1
 

Kürzlich hochgeladen (20)

This PowerPoint helps students to consider the concept of infinity.
This PowerPoint helps students to consider the concept of infinity.This PowerPoint helps students to consider the concept of infinity.
This PowerPoint helps students to consider the concept of infinity.
 
COMMUNICATING NEGATIVE NEWS - APPROACHES .pptx
COMMUNICATING NEGATIVE NEWS - APPROACHES .pptxCOMMUNICATING NEGATIVE NEWS - APPROACHES .pptx
COMMUNICATING NEGATIVE NEWS - APPROACHES .pptx
 
The basics of sentences session 3pptx.pptx
The basics of sentences session 3pptx.pptxThe basics of sentences session 3pptx.pptx
The basics of sentences session 3pptx.pptx
 
Google Gemini An AI Revolution in Education.pptx
Google Gemini An AI Revolution in Education.pptxGoogle Gemini An AI Revolution in Education.pptx
Google Gemini An AI Revolution in Education.pptx
 
How to Create and Manage Wizard in Odoo 17
How to Create and Manage Wizard in Odoo 17How to Create and Manage Wizard in Odoo 17
How to Create and Manage Wizard in Odoo 17
 
On_Translating_a_Tamil_Poem_by_A_K_Ramanujan.pptx
On_Translating_a_Tamil_Poem_by_A_K_Ramanujan.pptxOn_Translating_a_Tamil_Poem_by_A_K_Ramanujan.pptx
On_Translating_a_Tamil_Poem_by_A_K_Ramanujan.pptx
 
Jamworks pilot and AI at Jisc (20/03/2024)
Jamworks pilot and AI at Jisc (20/03/2024)Jamworks pilot and AI at Jisc (20/03/2024)
Jamworks pilot and AI at Jisc (20/03/2024)
 
OSCM Unit 2_Operations Processes & Systems
OSCM Unit 2_Operations Processes & SystemsOSCM Unit 2_Operations Processes & Systems
OSCM Unit 2_Operations Processes & Systems
 
SOC 101 Demonstration of Learning Presentation
SOC 101 Demonstration of Learning PresentationSOC 101 Demonstration of Learning Presentation
SOC 101 Demonstration of Learning Presentation
 
UGC NET Paper 1 Mathematical Reasoning & Aptitude.pdf
UGC NET Paper 1 Mathematical Reasoning & Aptitude.pdfUGC NET Paper 1 Mathematical Reasoning & Aptitude.pdf
UGC NET Paper 1 Mathematical Reasoning & Aptitude.pdf
 
Python Notes for mca i year students osmania university.docx
Python Notes for mca i year students osmania university.docxPython Notes for mca i year students osmania university.docx
Python Notes for mca i year students osmania university.docx
 
Philosophy of china and it's charactistics
Philosophy of china and it's charactisticsPhilosophy of china and it's charactistics
Philosophy of china and it's charactistics
 
TỔNG ÔN TẬP THI VÀO LỚP 10 MÔN TIẾNG ANH NĂM HỌC 2023 - 2024 CÓ ĐÁP ÁN (NGỮ Â...
TỔNG ÔN TẬP THI VÀO LỚP 10 MÔN TIẾNG ANH NĂM HỌC 2023 - 2024 CÓ ĐÁP ÁN (NGỮ Â...TỔNG ÔN TẬP THI VÀO LỚP 10 MÔN TIẾNG ANH NĂM HỌC 2023 - 2024 CÓ ĐÁP ÁN (NGỮ Â...
TỔNG ÔN TẬP THI VÀO LỚP 10 MÔN TIẾNG ANH NĂM HỌC 2023 - 2024 CÓ ĐÁP ÁN (NGỮ Â...
 
Fostering Friendships - Enhancing Social Bonds in the Classroom
Fostering Friendships - Enhancing Social Bonds  in the ClassroomFostering Friendships - Enhancing Social Bonds  in the Classroom
Fostering Friendships - Enhancing Social Bonds in the Classroom
 
Beyond_Borders_Understanding_Anime_and_Manga_Fandom_A_Comprehensive_Audience_...
Beyond_Borders_Understanding_Anime_and_Manga_Fandom_A_Comprehensive_Audience_...Beyond_Borders_Understanding_Anime_and_Manga_Fandom_A_Comprehensive_Audience_...
Beyond_Borders_Understanding_Anime_and_Manga_Fandom_A_Comprehensive_Audience_...
 
FSB Advising Checklist - Orientation 2024
FSB Advising Checklist - Orientation 2024FSB Advising Checklist - Orientation 2024
FSB Advising Checklist - Orientation 2024
 
Mehran University Newsletter Vol-X, Issue-I, 2024
Mehran University Newsletter Vol-X, Issue-I, 2024Mehran University Newsletter Vol-X, Issue-I, 2024
Mehran University Newsletter Vol-X, Issue-I, 2024
 
HMCS Vancouver Pre-Deployment Brief - May 2024 (Web Version).pptx
HMCS Vancouver Pre-Deployment Brief - May 2024 (Web Version).pptxHMCS Vancouver Pre-Deployment Brief - May 2024 (Web Version).pptx
HMCS Vancouver Pre-Deployment Brief - May 2024 (Web Version).pptx
 
Graduate Outcomes Presentation Slides - English
Graduate Outcomes Presentation Slides - EnglishGraduate Outcomes Presentation Slides - English
Graduate Outcomes Presentation Slides - English
 
Unit 3 Emotional Intelligence and Spiritual Intelligence.pdf
Unit 3 Emotional Intelligence and Spiritual Intelligence.pdfUnit 3 Emotional Intelligence and Spiritual Intelligence.pdf
Unit 3 Emotional Intelligence and Spiritual Intelligence.pdf
 

When financial statements are presented in comparative form and anothe.docx

  • 1. When financial statements are presented in comparative form and another firm audited the prior- years financial statements (but the other firms report is not presented with the financial statements), the auditors report on the current-year financial statements should A.) Refer to any procedures performed by the current auditor to verify the opinion on the prior- years financial statements. B.) Not refer to the prior-years financial statements. C.) Refer to the report and type of opinion issued by the other firm on the prior-years financial statements. D.) Disclaim an opinion on the prior-years financial statements. Solution The answer is: C.) Refer to the report and type of opinion issued by the other firm on the prior-years financial statements. This is done to maintain continuity from one years report to the next.