[superwario]

So my understanding is that all public companies are required to perform an integrated audit regardless of their filer status.

So are these my two choices regarding my Auditor’s Report format:

1. The standard report with the Intro, Management Resp, Auditors, Resp, Opinion + Separate Internal Control Report (with opinion)

2. The combined format that only has Intro, Scope, Definition, Inherent limitations, Opinion

???

The combined format seems weird to me in the fact that it is so different than the format i learned in Chapter 1 (MR DIMM REPPORTS CRAME if youre using Becker)

Thanks!!!

FAR - 89
AUD - 98
BEC - 86
REG - 10/02/13

[superwario]

My above post was kind of confusing so I re-worded it here:

For those using Becker…

On page A5-43 on Audit B, I noticed that the combined report of an Integrated Audit Report regarding an issuer still uses the “Old Way” of the format.

Why does the combined report not follow the “MR DIM REPPORTS CRAME” format?

(i.e. why arent there seperate Management Responsibility and Auditor Responsibility sections as required by the the AU-C standards?)

As a seperate question, do all issuers require Integrated Audits, including filers with a market cap under $75 Million?

Thanks!

Ray

FAR - 89
AUD - 98
BEC - 86
REG - 10/02/13

[Anonymous]

This is a really good question, hoping someone can answer it before my test in 2 days. The Becker book keeps straddling the old and new standards…

[superwario]

Here is a quick update from a response I received from Becker support (Which wasn't too helpful):

Thank you for using the Becker Knowledge Base.

It appears to me that the report on Page 43 is meant only to show the specific differences and additions necessitated by a report on internal control being included as a combined report.

I am doing these late on Sunday. I will ask the editors this question tomorrow and follow up with you if I find out more information.

FAR - 89
AUD - 98
BEC - 86
REG - 10/02/13

[Anonymous]

Well the new standards do not apply for issuers. So in all their reports it should be using the old way. I'm more concerned why the report for nonissuers on pg A5-39-41 using the old way.

[Author]

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