public company client

1. Identify the four paragraphs of the auditor’s standard unqualified report for a public company client. 2. Briefly discuss why auditors must often exercise creativity and innovation in auditing financial statements. Give an example different from the one offered in the text.
3. An independent audit adds value to the communication of financial information because the audit
a. Confirms the exact accuracy of management’s financial representations.
b. Lends credibility to the financial statements.
c. Guarantees that financial data are fairly presented.
d. Assures the readers of financial statements that any fraudulent activity has been corrected.