27 An auditors report on financial statements prepared in ac

27. An auditor\'s report on financial statements prepared in accordance with an other comprehensive basis for accounting (OCBOA) should include all of the following except a. a statement that the basis of accounting is not GAAP b. an opinion as to whether the statements are fairly stated in accordance with the OCBOA c. reference to the footnote disclosure of the basis of accounting used to prepare the financial statements d. an except-for modification of the opinion due to the non- compliance with GAAP 28. The CPA Exam is administered by which organization? a. State Society of CPA\'s b. PCAOB c. State Board of Accountancy d. SEC e. AICPA

Solution

Solution:

?27. Answer is option (d) an except-for modification of the opinion due to the non-compliance with GAAP

** Statement about the basis of accounting, True & Fair View and foot note disclosure reference are necessary but the last one is not be included there.

28. Answer is option (c) State Board of Accountancy.

** The CPA exam is maintained and scored by the AICPA but it is administered by the National Association of State Boards of Accountancy (NASBA).

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