[CS]

Hey everyone,

In the Roger book for Audit review, I am past the the section regarding the regular audit reports, but doing progress tests I hit some confusion on something I thought I was comfortable with.

Regarding “Auditor’s Responsibility”, I am finding a discrepancy between Roger’s chart which summarizes the different auditor reports, what is different depending on modifications/opinions etc. and the examples straight from the lesson.

The one I find (and is the one I got wrong on the session MCQ) pertains to what is changed in the auditor’s responsibility if there is a qualified opinion issued due to a material departure. I thought that the auditor’s responsibility paragraph remained the same, leading into the basis for the qualified opinion, but on the chart it says it should be changed to signify that “…evidence was obtained to provide a basis for our “qualified” opinion instead of opinion.

Also, any good resources for a summary for this? Thanks everyone.

[cpa1234]

Becker has two amazing charts for public and private companies and how to change or not change paragraphs based on type of opinion and the reason for the opinion (misstatement or scope limit). Definitely try to find someone who can send you pictures, they are in Module 4 or 5 I think.

If it is a public company, the auditor responsibility paragraph is in the scope paragraph, which isn't changed for a misstatement, but does add an except for line for scope limit. They include middle paragraphs to explain the modification/qualification of the opinion.

If it is a private company, the auditor responsibility names the type of opinion to be made, which is considered a change from the standard paragraph, regardless of the reason for the opinion modification/qualification.

[CS]

@ eventualcpa11

Thanks so much for the breakdown, it makes sense given the purpose of the reports.

I will definitely look for the Becker chart you mentioned. I've never used Becker's, but they seem to be adept at comparisons. I remember for FAR, I saw snippets of GAAP vs. IFRS a day or 2 before my exam, and of course a nugget or 2 from the chart (the section I saw anyway) popped up on the exam, which was nice considering how much of the material we study doesn't show up.

[Bourne]

Does anyone have this chart they can post the link to or send me? Taking the exam tomorrow and this would be very helpful.

[Recked]

Page 6-33 in Roger book, Lecture 6.08.

Sorry for the blurry pic, too much coffee.

[Bourne]

I must've missed the pic before they deleted it. Anyone else have a way to send it?

[Recked]

Album was set to private on linked source.
Reload page and it might show now.

[Bourne]

YESSSS, thanks Recked. Good luck tomorrow!

[Author]

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