Reporting on Compliance with Requirements in an F/s Audit Flashcards

1
Q

When issuing a negative opinion on compliance with debt covenants, where can that be reported?

A

In a seperate audits report or combined with the with audited financial statement audit report

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2
Q

If the compliance negative opinion is on the Independent audit report with the positive opinion, where should the compliance opinion be located?

A

Other matter paragraph

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3
Q

T/F: a restricted use related to the other matter or restricted use paragraph needs to be included in the compliance paragraph is included?

A

TRUE

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