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sunnisam sunnisam
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A year ago
A CPA who has been engaged to audit financial statements that were prepared on a cash basis

▸ must ascertain that there is proper disclosure of the fact that the cash basis has been used.

▸ may not be associated with such statements which are not in accordance with generally accepted accounting principles.

▸ must render a qualified report explaining the departure from generally accepted accounting principles in the opinion paragraph.

▸ must restate the financial statements on an accrual basis and then render the standard (short-form) report.
Textbook 
Auditing and Assurance Services

Auditing and Assurance Services


Edition: 17th
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capsy2capsy2
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A year ago
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sunnisam Author
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Just got PERFECT on my quiz
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Thank you, thank you, thank you!
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Thanks for your help!!
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