Chapter 3

According to ACCA, the audit report includes the following basic elements:

• 1. Title,

  2. Addressee,

  3. Auditor’s opinion,

  4. Basic for opinion,

• 5. Going concern,

  6. Key audit matter,

  7. Other information,

  8. Responsibilities for the FSs,

• 9. Auditor’s responsibilities for the audit of the FSs,

  10. Name of the engagement partner,

  11. Auditor’s signature,

  12. Auditor’s address and date of the report.

• All of the above answers

In Vietnam, the audit report of independent auditors includes the following basic elements:

title, addressee, introductory paragraph, management’s responsibility for the financial statements, auditor’s responsibility, opinion paragraph, other reporting responsibilities, auditor’s signature, date of the report, and auditor’s address.

• True

• False

What is the main difference between ACCA’s audit report and Vietnam’s audit report?

Việt Nam khác các nước khác ở cách sắp xếp thứ tự audit opinion

• True

• False

There are basically two types of audit report:

(1)Unmodified audit report

(2) Modified audit report

• True

• False

There are 4 types of audit opinion

• Unmodified audit opinion (chấp nhận toàn phần)

• Qualified audit opinion (chấp nhận từng phần)

• adverse audit opinion (ý kiến kiểm toán dạng trái ngược)

• disclaimer audit opinion (dạng từ chối)

• All of the above answers

Immaterial (không trọng yếu) => unmodified opinion (ý kiến kiểm toán dạng chấp nhận toàn phần)

• True

• False

Material but not pervasive (trọng yếu nhưng không lan tỏa) => Qualified opinion (ý kiến kiểm toán dạng chấp nhận từng phần)

• True

• False

Material and pervasive (trọng yếu và lan tỏa), Financial statements are materially misstated

=> ADVERSE OPINION (ý kiến dạng trái ngược)

• True

• False

Material and pervasive (trọng yếu và lan tỏa), Auditor is unable to obtain sufficient appropriate audit evidence.

=> DISCLAIMER OPINION (ý kiến dạng từ chối)

• True

• False

Emphasis of matter paragraphs (EOM) (vấn đề cần nhấn mạnh, đặt sau audit opinion)

EOM use to draw readers’ attention to a matter already presented or disclosed in the FSs that the auditor feels is fundamental to their understanding if the auditor has obtained sufficient appropriate audit evidence that the matter is not materially misstated.

• True

• False