[jeff]

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[Future Ninja]

@cpahopeful

If comparative FS are presented with last year being an audit, and current year being a review, you don't modify any paragraph but add an EOM AFTER the opinion paragraph?

#YES. A separate paragraph an appropriate description of the responsibility assumed for the financial statements of the prior period. The separate paragraph should indicate (a) that the financial statements of the prior period were audited previously, (b) the date of the previous report, (c) the type

of opinion expressed previously, (d) if the opinion was other than unmodified,

the substantive reasons therefor, and (e) that no auditing procedures were performed

after the date of the previous report.

General Rule: if previous was an audit and current year is a review or compile (downgrade of service) and previous report is reissued and presented, just report for the current year engagement only.

AUD - 79 (expired) retaking July 28,2016
FAR - 76 expiring July 31, 2016
BEC - 85
REG - 74,74,74,74,59,70,

[Future Ninja]

@cpahopeful:

If comparative FS are being presented with the last years opinion being changed from a qualified opinion to an unqualified opinion, then the EOM is BEFORE the opinion paragraph:

# I think EM Par should be presented after Opinion paragraph. There's nothing that I know of expressing unqualified opinion and the EM Par is presented before Opinion Paragraph. A basis of modification of opinion ( qualified or adverse) is presented BEFORE opinion paragraph.

Lets wait what others have to say.

AUD - 79 (expired) retaking July 28,2016
FAR - 76 expiring July 31, 2016
BEC - 85
REG - 74,74,74,74,59,70,

[Future Ninja]

@cpahopeful

Lastly if OCBOA is used instead of GAAP, the EOM is before the opinion paragraph:

#Other comprehensive basis of accounting are cash basis, tax, and regulatory basis. I called this CATAR ( sounds like Qatar in middle east because its far away from where I am ( far away from GAAP).

I think EOM is after opinion paragraph.

AUD - 79 (expired) retaking July 28,2016
FAR - 76 expiring July 31, 2016
BEC - 85
REG - 74,74,74,74,59,70,

[Anonymous]

Thanks Ninja!

[Future Ninja]

@cpahopeful

if comparative FS are presented and predecessor auditor does not agree to reissue the report that had a qualified opinion, what paragraph do you explain the reasons for that opinion? Like is it the intro, or in a separate paragraph?

# if PA did not reissue report, I would explain the reasons in OTHER MATTER paragraph because the matter is not within the accounts and context of FS.

Let's wait what other have to say.

AUD - 79 (expired) retaking July 28,2016
FAR - 76 expiring July 31, 2016
BEC - 85
REG - 74,74,74,74,59,70,

[Future Ninja]

who are taking aud today? Best of luck to you.

AUD - 79 (expired) retaking July 28,2016
FAR - 76 expiring July 31, 2016
BEC - 85
REG - 74,74,74,74,59,70,

[Anonymous]

Tomorrow at 12 30.

[Future Ninja]

Best of luck cpahopeful. mine is on 18th with cpaby2015 I think.

AUD - 79 (expired) retaking July 28,2016
FAR - 76 expiring July 31, 2016
BEC - 85
REG - 74,74,74,74,59,70,

[Future Ninja]

let us know your experience.

AUD - 79 (expired) retaking July 28,2016
FAR - 76 expiring July 31, 2016
BEC - 85
REG - 74,74,74,74,59,70,

[Anonymous]

Just checked a few of my questions in the book, the EOM paragraph is before when opinion changed even if it is unqualified.

[Anonymous]

And in the book it says if predecessor auditor did NOT reissue the prior year report which was a qualified opinion, then you still explain reasons in the intro which makes little sense.

[Future Ninja]

oh yeah? interesting. then I stand corrected. i'll take note of that. however, the EM PAR that I know of is after opinion paragraph. kindly check AU-C 706. now im confused. uh uh..

AUD - 79 (expired) retaking July 28,2016
FAR - 76 expiring July 31, 2016
BEC - 85
REG - 74,74,74,74,59,70,

[Anonymous]

Um, I know CPAby2015 explained to me once, but how do the SOC reports work again?

[Future Ninja]

I saw the clarified standard: AU-C508.74

If both years were audited and predecessor auditor whose report is not presented, the successor auditor should

indicate in the introductory paragraph of his or her report (a) that the financial

statements of the prior period were audited by another auditor,29 (b) the date

of his or her report, (c) the type of report issued by the predecessor auditor,

and (d) if the report was other than a standard report, the substantive reasons

therefore

AUD - 79 (expired) retaking July 28,2016
FAR - 76 expiring July 31, 2016
BEC - 85
REG - 74,74,74,74,59,70,

[Future Ninja]

Sarbanes Oxley Act?

AUD - 79 (expired) retaking July 28,2016
FAR - 76 expiring July 31, 2016
BEC - 85
REG - 74,74,74,74,59,70,

[Author]

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