Assertion: audit's report | /r/HasProperty | issued
Facets:
value: by being unbiased
type: MANNER
Source sentences:
text: We conducted our audit in accordance with auditing standards generally accepted in (the country where the report is issued).
text: In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of the Company as of December 31, 20XX, and the results of its operations and its cash flows for the year then ended in accordance with generally accepted accounting principles in (the country where the report is issued).
text: It is also possible that the qualified report is issued when then the scope of the audit is limited.
text: When the changes have been reviewed by audit management and the client, the final report is issued.
text: A discussion draft of each report with unresolved findings is circulated to the client before the report is issued.
text: As also required by the standards, management will authorize and request that the successor audit firm provide us with a similar letter of representation stating (a) that it has audited, in accordance with applicable auditing standards, the balance sheet of the Company as of [date of current year’s financial statements] and the related statements of operations, retained earnings, and cash flows for the year then ended, (b) that its audit did not reveal any matters that, in their opinion, might have a material effect on, or require disclosure in, the prior period’s financial statements of the Company, as reported on by our firm, and (c) that it will notify us promptly should anything come to their attention prior to the date their report is issued that, in their judgment, would have a material effect on the financial statements of the Company as of and for the prior year, as reported on by our firm.
text: Should anything come to our attention prior to the date our report is issued that, in our judgment, would have a material effect on the prior year’s financial statements of [client’s name], as reported on by your firm, we shall notify you promptly.
text: The report should be issued by being unbiased and objective in discharging the functions.
text: A qualified report due to a scope limitation is issued when the auditor can neither perform procedures that he or she considers necessary nor satisfy himself or herself by using alternative procedures, usually due to the existence of conditions beyond the client's or the auditor's control, but the amount involved in the financial statements is not highly material.
text: If no, it is considered immaterial, and an unqualified report can be issued; if yes it is considered material and numbers 2 and 3 come into play.
text: Internal Audit follows up on all audit findings within one year of when the report was issued.
text: The opinion stated in a SOC 2 report is valid for twelve months following the date the SOC 2 report was issued.