Question

When auditing an entity's financial statements in accordance with government auditing standards (the yellow book), an auditor is required to report on:?

Answer 1

Wiley CPA Exam Review 2010, Auditing and Attestation explained this on an exam that the auditor should issue a report to comply with the law on internal control and also to document financial information. The yellow book becomes an auditing standard that provided uniformity on reports.