The financial statements and auditor report
were not lodged during the suspension period, and ASIC cancelled Allegianz's AFS licence on 7 September 2016.
Department of the Treasury's Advisory Committee on the Auditing Profession (ACAP) recommended that the PCAOB undertake a standard-setting initiative to consider improvements to the standard auditor report
By far, the most common auditor report
subject to SAS 125 is listed third in the above list--the "by product" report is usually not even called a report-namely the "management letter" The primary objective of an audit of financial statements is to determine if they are stated in accordance with GAAP.
A 2002 state auditor report
recommended reforms to the red light camera program to eliminate perceived conflicts of interest and restore public trust in the program.
The AICPA's Auditing Standards Board (ASB) voted to issue a proposed requirement for an expanded auditor report
that converges with the guidance from the International Auditing and Assurance Standards Board (IAASB).
Lastly, the Act has a provision not covered by SAS 90, which requires that the auditor report
to the audit committee "other material written communications" between the auditor and the client.
Based on a 2002 State Auditor report
that recommended tighter control over red light camera programs, AB 1022 has been created to restore public trust by ensuring that the programs focus on safety and stipulate that oversight of the programs cannot be delegated to vendors that provide the red light camera service.
When the auditor reports
on an incomplete presentation but one that is otherwise in accordance with generally accepted accounting principles (GAAP), the auditor should include an emphasis-of-matter paragraphs in the auditor's report that
The ABA's comment letter called for a revised definition of materiality for purposes of the internal control assessment, and for the SEC to encourage the PCAOB to eliminate one of the two overlapping auditor reports
on internal control that are required under AS2.
See the AICPA Audit and Accounting Guide State and Local Governments for illustrative auditor reports
The IAPC has long required that auditor reports
identify which country's accounting principles have been used in audited financial statements where that is not evident.
11) When management revises the financial statements and the auditor reports
on the revised financial statements, the new date (or the dual date) included in the auditor's report cannot be earlier than the date on which the auditor carried out the audit procedures necessary in the circumstances on the revision, including that the documentation has been reviewed and management has prepared and asserted that they have taken responsibility for the revised financial statements.