basic financial statements Archives

Which of the following best describes the auditor’s responsibility for the MD&A information?

Posted on February 24, 2023 by Assessments

The following questions concern information accompanying basic financial statements. Choose the best response. a. The Form 10-K filed by management of a public company includes a section on management’s discussion and analysis (MD&A) in addition to the annual financial statements. Which of the following best describes the auditor’s responsibility for the MD&A information? (1) The […]

What are the purposes of additional information accompanying basic financial statements?

Posted on February 23, 2023 by Assessments

As a part of the audit of Ren Gold Manufacturing Company, a nonpublic company, management requests basic financial statements and separately, the same basic financial statements accompanied by additional information. Management informs you that the intent is to use the basic financial statements for bankers, other creditors, and the two owners who are not involved […]

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Which of the following best describes the auditor’s responsibility for the MD&A information?

What are the purposes of additional information accompanying basic financial statements?