5. Audit Reports ３

GAAS PROBLEM

監査上の問題が発覚した場合。

・    Scope Limitation ：監査に必要な十分な証拠が得られなかった。Eg. 売掛金の確認状が送付できなかった場合。ただし、VouchingやTracingなど、Alternative ProcedureをしてSatisfyしていれば大丈夫。

・　Uncertainty ：訴訟を起こされているが、いくらで負けるのか分からない。

・    Going Concern Doubt：倒産の可能性がある。

SCOPE LIMITATION

重大なScope Limitationがあった場合、Qualified opinionにします。

・    Introductory Paragraph：適正意見のIntroductory Paragraphと、一言一句同じです。

・    Management’s Responsibility Paragraph：一言一句同じです。

・    Auditor’s Responsibility Paragraph：少し変えます。“…a basis for our qualified opinion.”というフレーズを入れます。

・    Basis-for-Qualified-Opinion Paragraph：Opinion Paragraphの前に入れて理由を述べます。

・    Opinion Paragraph：“In our opinion, except for…”という殺し文句を入れます。

Independent Auditor’s Report

Address

(Same first and second paragraphs as report with unmodified opinion)

Auditor’s Responsibility

Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with auditing standards generally accepted in the United States of America. These standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation and fair presentation of the financial statements in order to design the audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control.  Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our qualified audit opinion.

Basis for Qualified Opinion

We were not engaged as auditors of the Company until after December 31, year 1, and, therefore, were unable to observe the counting of the physical inventory at the beginning or ending of the year. As a result, we were unable to determine whether any adjustment might have been necessary in respect to recorded inventories and the elements making up the statements of income, changes in stockholders’ equity, and cash flows.

Opinion

In our opinion, except for the possible effects of the matter described in the Basis for Qualified Opinion paragraph, the financial statements referred to above present fairly, in all material respects, the financial position of XYZ Company as of December 31, year 1, and the results of its operations and its cash flows for the year then ended in accordance with accounting principles generally accepted in the United States of America.

Auditor’s Signature, Auditor’s City & State, Date

クライアントが故意にやっていて超ヤバい時は、Disclaimerにします。

・    Introductory Paragraph：少し変えます。ひな型参照。

・    Management’s Responsibility Paragraph：一言一句同じです。

・    Auditor’s Responsibility Paragraph：少し変えます。“…a basis for our disclaimer opinion.”というフレーズを入れます。

・    Basis-for-Disclaimer-Opinion Paragraph：Disclaimer Paragraphの前に入れて理由を述べます。

Opinion Paragraph：意見を出しません。

Independent Auditor’s Report

Address

We were engaged to audit the accompanying balance sheet of XYZ Company, as of December 31, year 1, and the related statements of income, retained earnings, and cash flows for the year then ended.

(Same second paragraphs as the report with unmodified opinion)

Auditor’s Responsibility

Our responsibility is to express an opinion on these financial statements based on conducting the audit in accordance with auditing standards generally accepted in the United States of America. Because of the matters described in the Basis for Disclaimer of Opinion paragraph, however, we were not able to obtain sufficient appropriate audit evidence to provide a basis for an audit opinion.

Basis for Disclaimer of Opinion

Due to the introduction of a new computerized accounts receivable system, there were a number of misstatements in accounts receivable. We were unable to confirm by alternate means accounts receivable which total $X in the balance sheet at December 31, year 1. As a result of these matters, we were unable to determine whether any adjustments might have been found necessary in respect of recorded or unrecorded accounts receivable, and the elements making up the statements of income, changes in stockholders’ equity, and cash flows.

Disclaimer of Opinion

Because of the significance of the matters described in the Basis for Disclaimer of Opinion paragraph, we have not been able to obtain sufficient appropriate audit evidence to provide a basis for an audit opinion. Accordingly, we do not express an opinion on these financial statements.

Auditor’s Signature, Auditor’s City & State, Date

Client-Imposed Limitation

クライアントが故意に出さない、テストさせない場合、USの監査基準ではDisclaim か withdrawか選べますが、International Audit Standardの場合は、withdraw監査契約打ち切りです。

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