Forming An Opinion and Reporting On Financial Statements

SESSION 4.
Forming an Opinion and

Reporting on Financial
Statements
Trainers Training on PPSSA Session 4.2

PPSSA 1700 Forming an Opinion and Reporting on Financial
Statements
Slide 4.2.1
Auditors Report on
Financial Statements
Forming an
Opinion on
F/S
PPSSA 1700
Modifications
to Opinion in
the IAR
PPSSA 1705
Emphasis of
Matter and
Other Matters
in the IAR
PPSSA1706

Statements
Comparative
and
Corresponding
Financial
Statements
PPSSA 1710
Slide 4.2.2
PPSSA 1700
Forming an Opinion and
Reporting on Financial
Statements
Trainers Training on PPSSA Session 4.12 PPSSA 1700 Forming

an Opinion and Reporting on Financial Statements
Slide 4.2.3
EFFECTIVITY:
ISA
700 December 15, 2009
PPSSA
1700 January 29, 2013

(COA Resolution No. 2013-007
dated January 29, 2013)

Statements
Slide
4 4.1.4
Forming an Opinion and Reporting

on F/S

Statements
Slide 4.1.5
THE AUDITORS REPORT ON

FINANCIAL STATEMENTS
PPSSA 1700 requires the auditor to:

assess
whether sufficient appropriate

audit evidence has been obtained to
provide reasonable assurance that the
financial statements taken as a whole are
free from material misstatements and
evaluate
whether
the
financial
statements
conform
with
the
applicable general purpose reporting
framework.

Statements
Slide 4.1.6
THE AUDITORS REPORT ON

General Purpose Reporting Framework

A
financial reporting framework

designed to meet the common
financial information needs of a wide
range of users.
The financial reporting framework
may be a fair presentation
framework or a compliance
framework.
Statements
Slide 4.1.7
Two types of General Purpose Reporting

Framework
Framework
Description
Fair
A financial reporting framework that requires
Presentati compliance with the requirements of the
on
framework.
Framework
International Financial Reporting Standards
(IFRS), or
International Public Sector Accounting
Standards (IPSAS)
The auditor reports on whether the financial
statements present fairly, in all
material respects or give a true and
fair view of the information that the
financial statements are designed to present.
PPSSA Session 4.1 PPSSA 1710
Trainers Training on
Comparative Information Corresponding figures and comparative
financial statements.
Slide 4.2.8
03/17/15
Two types of General Purpose Reporting

Framework
Framework
Description
Complianc A financial reporting framework that requires

e
compliance with the requirements of the
Framework framework, but does not contain the
acknowledgements for fair presentation.
An example would be a financial reporting
framework stipulated by a law or regulation
that is designed to meet the financial
information needs of a wide range of users.
The auditor reports on whether the

financial statements are prepared, in
all material respects, in accordance
with, Jurisdiction X Corporations
Act.
Slide 4.2.9
an Opinion and Reporting on the Financial Statements
03/17/15
Forming an Opinion Considerations

Considerations
Materiali Conclude whether:

ty
Materiality remains appropriate in
the context of the entitys actual
financial results.
Uncorrected misstatements
(including uncorrected misstatements
related to prior periods), either
individually or in aggregate, could
result in a material misstatement.
Slide 4.2.10
03/17/15

Considerations
Audit
Evidence
Has sufficient appropriate audit

evidence been obtained?
Are the accounting estimates made
by management reasonable?
Did the analytical procedures
performed at or near the end of the
audit corroborate conclusions formed
during the audit?

Slide 4.2.11
03/17/15

Considerations
Accounti
ng
Policies
Do the financial statements

adequately disclose the significant
accounting policies selected and
applied?
Are the accounting policies
consistent with the financial reporting
framework, and appropriate in the
circumstances?

Slide 4.2.12
03/17/15

Considerations
Financial
Statemen
ts
Disclosure
s
Do the financial statements refer to or

describe the applicable reporting
framework?
Have all financial statement disclosures
been made as required by the applicable
financial reporting framework?
Is the terminology used in the financial
statements, including the title of each
financial statement, appropriate?
Are there adequate disclosures to enable
intended users to understand the effect of
material transactions and events on the
information conveyed in the financial
statements?

an Opinion and Reporting on Financial statements.
Slide 4.2.13
03/17/15

Considerations
Financial
Statemen
ts
Disclosure
s
Is the information presented

relevant, reliable, comparable,
understandable, and sufficient?
Do the financial statements
provide adequate disclosures to
enable the intended users to
understand the effect of material
transactions and events on the
information conveyed in the financial
statements?

Slide 4.2.14
03/17/15

Considerations
Fair
Presentati
on/
Complianc
e
Framework
s
Do the overall presentation,

structure, and content (including
the note disclosures) faithfully
represent the underlying
transactions and events in
accordance with the applicable
financial reporting framework? If
not, is there a need to provide
disclosures beyond those
specifically required by the
framework to ensure fair
presentation?

Slide 4.2.15
03/17/15

Considerations
Fair
Presentati
on/
Complianc
e
Framework
s
Are the financial statements

prepared in accordance with the
compliance framework?
Are the financial statements, after
any adjustments made by
management as a result of the audit
process, consistent with the
understanding obtained about the
entity and its environment?

Slide 4.2.16
03/17/15

Statements
Slide 4.217
Basic elements of the auditors

Standard Report
Title
2. Addressee
3. Introductory Paragraph
4. Managements Responsibility
5. Auditors Responsibility
6. Auditors Opinion
7. Other Reporting Responsibilities
8. Auditors Signature
9. Date
10.Auditors Address
1.

Statements
Slide 4.1.18
Basic elements of the

auditors Standard Report
1. Title
The title of the report should clearly indicate that it
is
the report of an independent auditor. This is
done in
order to:
to emphasize the independence of the auditor
with respect to the client under audit; and
to distinguish the auditors report from the
reports that might be issued by others.
Statements
Slide 4.1.19

2. Addressee
The report should be addressed to
those parties for whom the report
is prepared. Ordinarily the report is
addressed to the shareholders, board
of directors, LCE or a third party
requesting the audit.
Statements
Slide 4.1.20

Standard Unmodified Report
3. Introductory paragraph
The introductory paragraph should
identify the name of the entity whose financial
statements have been audited
state that the financial statements have been
audited
identify the title of each statement that
comprises the financial statements
Statements
Slide 4.1.21

Standard Unmodified Report
Introductory Paragraph
refer
to the summary of significant

accounting policies and other
explanatory information
specify the date or period covered by
each financial statement
Statements
Slide 4.1.22

Standard d Report
4. Managements responsibility
The report should state that the management
is responsible for the preparation and fair
presentation of the financial statements
in accordance with the applicable FRF

for such internal control as it determines is
necessary to enable the preparation of
financial statements that are free from
material misstatement, whether due to fraud
or error.

Statements
Slide 4.1.23

Standard Report
5. Auditors responsibility
state that the responsibility of the auditor is to

express an opinion on the financial statements
based on the audit
state that the audit was conducted in
accordance with Philippine Public Sector
Standards on Auditing (PPSSA)
give a general description of an audit
conducted
state that the auditor believes that the audit
evidence obtained is sufficient and
appropriate to provide a basis for the auditors
opinion.

Statements
Slide 4.1.24

Standard Report
6. Auditors opinion
The auditors report shall state that the

financial statements are presented
fairly (or give a true and fair view) in all
material respects in accordance with the
applicable financial reporting framework

Statements
Slide 4.1.25

Standard Report
7.
Other reporting responsibilities

Certain standards, laws, or generally accepted
practice in a jurisdiction may require or permit the
auditor to report on other responsibilities. Such
matters would be addressed in a separate
paragraph following the auditors opinion.
report within a separate section in the auditors
report (e.g., under a new subheading such as
Report on Other Legal and Regulatory
Requirements).

Statements
Slide 4.1.26

8. Auditors signature
The report should be signed in the name
of the audit firm and/or the personal
name of the auditor as appropriate.

Statements
Slide 4.1.27

Standard Report
9. Date of the report
The report should be dated as of the completion

of all essential audit procedures.
the auditor should not date the report earlier
than the date on which the financial statements
are signed or approved by the management, and
earlier than the date on which the auditor has
obtained sufficient appropriate audit evidence.

Statements
Slide 4.1.28

10. Auditors address
The report should name a specific

location where the auditor
maintains his office.

Statements
Slide 4.1.29
The Standard Independent

Auditors Report (IAR)
The
accounting
profession
deemed
it
necessary to standardize the format of the
report in order to:
Avoid
report
confusion among the readers of the
Alert
the readers in circumstances in which

the auditor modifies his report
Promote
the credibility of the report in

international market

Statements
Slide 4.1.30
ISSAI/PPSSA Requirements
ISSAI
Referen
ce
Compliance Requirement
ISSAI
1700.10
The auditor shall form an opinion on whether

the financial statements are prepared, in all
material respects, in accordance with the
applicable financial reporting framework.
ISSAI
1700.11
In order to form that opinion, the auditor shall

conclude as to whether the auditor has
obtained reasonable assurance about whether
the financial statements as a whole are free
from material misstatement, whether due to
fraud or error.

Statements
Slide 4.1.31
Auditors Report on
Financial Statements
Forming an
Opinion on
F/S
PPSSA 1700
Modifications
to Opinion in
the IAR
PPSSA 1705
Emphasis of
Matter and
Other Matters
in the IAR
PPSSA1706

Statements
Comparative
and
Corresponding
Financial
Statements
PPSSA 1710
Slide 4.2.32
PPSSA 1705
MODIFICATIONS TO THE
OPINION IN THE
INDEPENDENT
AUDITORS REPORT

PPSSA 1705 Modifications to the Opinion in the Independent
Auditors Report
Types of audit opinion

Unmodified
2. Modified
1.

Statements
Slide 4.1.34
Modified Opinion
Necessary when:
1.The auditor concludes, based on the
audit evidence obtained, that the
financial statements as a whole are not
free from material misstatement; or
2.The auditor is unable to obtain
sufficient appropriate audit evidence to
conclude that the financial statements
as a whole are free from material
misstatement.
PPSSA 1705 Modification of in the IAR
Slide 4.2.35
Types of Modified Opinion

Qualified
Adverse
Disclaimer

PPSSA 1705 Modification of Opinion in the IAR
Slide 4.1.36

Qualified Opinion
(a) The auditor, having obtained sufficient
appropriate audit evidence, concludes that
misstatements, individually or in the aggregate,
are material, but not pervasive, to the financial
statements; or
(b) The auditor is unable to obtain sufficient
appropriate audit evidence on which to base the
opinion, but the auditor concludes that the
possible effects on the financial statements of
undetected misstatements, if any, could be
material but not pervasive.
Slide 4.1.37

Adverse Opinion
- The auditor shall express an adverse
opinion when the auditor, having
obtained sufficient appropriate audit
evidence, concludes that misstatements,
individually or in the aggregate, are both
material and pervasive to the financial
statements.

Slide 4.1.38

Disclaimer of Opinion
1.The auditor shall disclaim an
opinion when the auditor is unable to
obtain sufficient appropriate audit
evidence on which to base the
opinion, and the auditor concludes
that the possible effects on the
financial statements of undetected
misstatements, if any, could be both
material and pervasive.
Slide 4.1.39

Disclaimer of Opinion
2.The
auditor shall disclaim an opinion when,

in extremely rare circumstances involving
multiple uncertainties, the auditor concludes
that, notwithstanding having obtained
sufficient appropriate audit evidence
regarding each of the individual
uncertainties, it is not possible to form an
opinion on the financial statements due to
the potential interaction of the uncertainties
and their possible cumulative effect on the
Slide 4.1.40
Materiality Consideration
Materiality and pervasiveness (largescale) of effect on financial statements

determine the opinion to be expressed.
Pervasive A term used, in the context of

misstatements, to describe the effects on
the financial statements of misstatements

Auditors Report
Slide 4.1.41
Pervasive effects on the financial

statements are those that, in the
auditors judgment:
a) Are not confined to specific

elements, accounts or items of the
financial statements;
b) If so confined, represent or could
represent a substantial proportion of
the financial statements; or
c) In relation to disclosures, are
fundamental to users
understanding of the financial
statements.

Auditors Report
Slide 4.1.42
Modifications of the Standard Audit Report
Matters Affecting the

Auditors Unmodified
Opinion
Disagreement with Mgt.

Scope Limitations
Uncertainties
Matters Not Affecting the

Auditors Unmodified
Opinion
Going Concern Uncertainties
Justifiable GAAP Departure
Inconsistencies
Auditors Report
Slide 4.1.43
Matters Affecting the

Auditors Unmodified Opinion
Matters Affecting the Auditors Unqualified Opinion
Scope Limitations
GAAP Violation
Scope Limitations
Disagreement with Mgt.
Material
Highly
Material
Material
Highly
Material
Qualified
Opinion
Adverse
Opinion
Qualified
Opinion
Disclaimer of
Opinion

Auditors Report
Slide 4.1.44
Disagreement with
Management
The
auditor may disagree with

management about certain matters such
as the acceptability of accounting policies
selected, the method of their application,
or the adequacy of disclosures in the
If such disagreements are significant to the
financial statements, the auditor should
express a qualified or an adverse
opinion.

Auditors Report
Slide 4.1.45
Scope Limitations
Scope
limitations arise when the auditor

is unable to perform necessary audit
procedures or the auditor is unable to
gather sufficient appropriate
evidence about an assertion.
A limitation on the scope of the auditors
work may be imposed by the entity or
imposed by circumstances.
A scope limitation will result to either
qualified or a disclaimer of an opinion

Auditors Report
Slide 4.1.46
Overcoming Scope Limitation

Auditors
may be able to overcome

scope
limitations
by
performing
alternative procedures to support the
unmodified opinion on the financial
statements.

Auditors Report
Slide 4.1.47
Limited Reporting Objective

In
some instances, the auditor will be

asked to report only on the entitys
balance sheet but not on other basic
financial statements. This engagement is
known as limited reporting objective.

Auditors Report
Slide 4.1.48
Effect on the Audit Report

Whenever
the auditor expresses an opinion

that
is other than unmodified, a clear
description of all the substantive
reasons should be included in the report
and, unless impracticable, a quantification of
the possible effect(s) on the financial
statements.

Auditors Report
Slide 4.1.49
ISSAI
Referen
ce
ISSAI
1705. 19
If there is a material misstatement of the

financial statements that relates to the nondisclosure of information required to be
disclosed, the auditor shall: (a) Discuss the
non-disclosure with those charged with
governance; (b) Describe in the basis for
modification paragraph the nature of the
omitted information; and (c) Unless prohibited
by law or regulation, include the omitted
disclosures, provided it is practicable to do so
and the auditor has obtained sufficient
appropriate audit evidence about the omitted
information. (Ref: Para. A19)

PPSSA 1705 Modifications to the Opinion of the IAR
Slide 4.1.50
ISSAI
Referen
ce
ISSAI
1705. 20
If the modification results from an inability to

obtain sufficient appropriate audit evidence,
the auditor shall include in the basis for
modification paragraph the reasons for that
inability.
ISSAI
1705.21
Even if the auditor has expressed an adverse

opinion or disclaimed an opinion on the
financial statements, the auditor shall describe
in the basis for modification paragraph the
reasons for any other matters of which the
auditor is aware that would have required a
modification to the opinion, and the effects
thereof. (Ref: Para. A20)

PPSSA 1705 Modifications to the Opinion of the IAR
Slide 4.1.51
Matters NOT Affecting the Auditors Unqualified Opinion
Uncertainties
Going Concern
Justifiable GAAP
Departure
Adequately
disclosed
in the notes
to financial
statements
Unqualified
opinion with
emphasis of a
matter
paragraph
Inconsistencies

Auditors Report
Slide 4.1.52
Uncertainty
An
uncertainty is a matter whose

outcome depends on future actions or
events not under the direct control of the
entity but that may affect the financial
statements. When there are significant
uncertainties that are adequately
accounted for and disclosed in the
notes to the financial statements, the
auditor should consider modifying the
report by adding an explanatory
paragraph to the unqualified report
to emphasize the material uncertainty .

Auditors Report
Slide 4.1.53
Multiple Uncertainties affecting

the Financial Statements
In
extreme cases, such as situations

involving multiple uncertainties that are
significant to the financial statements, the
auditor may consider it appropriate to
issue a disclaimer of opinion instead of
adding an emphasis of a matter
paragraph.

Auditors Report
Slide 4.1.56
Inconsistency
Consistency
of financial statement
presentations may be affected by
Changes in reporting entity
Changes affecting accounting principles

Auditors Report
Slide 4.1.57
Changes affecting Accounting

Principles
Changes in accounting principles: a
change from Cost to Fair Value method
of accounting for PPE.
Correction of error involving principles:
a change in accounting for doubtful
accounts from the direct write-off
method (Non-GAAP) to the allowance
method (GAAP).
Change from Fair value to Equity method
of accounting for equity securities
Auditors Report
Slide 4.1.58
Justifiable departure from

PPSAS/IFRS
Management
may judge it necessary to

depart from financial reporting standards
in order to come up with a fair
presentation of financial statements. If
the reasons are adequately disclosed
and the auditor believes that such a
departure is justified the auditor should
express an unqualified opinion and
disclose the departure in a separate
paragraph of the report.

Auditors Report
Slide 4.1.59
Summary of Modifications of
the Standard Unqualified
Report
Effect on Financial
Statements
Matters that affect the Unmodified Opinion
Material
Highly
Material or
Pervasive
1. Disagreement with Management
Qualified
Adverse
2. Scope Limitation
Qualified
Disclaimer
Matters that do not affect the Unmodified

Opinion
1. Uncertainties
2. Going Concern Uncertainties
3. Inconsistencies
4. Justifiable departure from PAS/PFRS
Auditors Report
Unqualified
opinion with
emphasis of a
matter
paragraph
Slide 4.1.60
CONSOLIDATED

Auditors Report
Slide 4.1.61
Who should act as the principal

auditor?
The auditor should consider whether his own
participation is sufficient to be able to act as the
principal auditor. This consideration involves
assessment of
the
materiality of the portion of the financial

statement audited;
the principal auditors knowledge of the overall
financial statements; and
the importance of the component(s) audited by
another auditor.
Auditors Report
Slide 4.1.62
Decision of whether to Rely

on the
Work of Other Auditors or
The Principal Auditor
not should make
judgment as to whether to rely

on the work of other auditors
or not. For this purpose, the
auditor should consider the
professional competence; and
independence of the other
auditors
Auditors Report
Slide 4.1.63
Relying on the Work of

Other Auditor
Principal Auditor Assumes
Responsibility for the work of
Other Auditor
Principal Auditor does not
Assume Responsibility for the
work of Other Auditor

Auditors Report
Slide 4.1.64
Examples of Modified
Audit Reports

Auditors Report
GAAP ViolationInappropriate Accounting Method Qualified Opinion

Report on the Financial Statements
We have audited ... (remaining words are the same as the standard unmodified
report)
Managements Responsibility for the Financial Statements
Management is responsible for (remaining words are the same as the standard
unmodified report)
Auditors Responsibility
Our responsibility is to (remaining words are the same as the standard unmodified
report)
Basis for Qualified Opinion
As discussed in Note X to the financial statements, no depreciation has been provided
in the financial statements which practice, in our opinion, is not in accordance with
International Financial Reporting Standards. The provision for the year ended
December 31, 20X7, should be xxx based on the straight-line method of depreciation
using annual rates of 5% for the building and 20% for the equipment. Accordingly, the
fixed assets should be reduced by accumulated depreciation of xxx and the loss for
the year and accumulated deficit should be increased by xxx and xxx, respectively.
Opinion
In our opinion, except for the effect on the financial statements of the matter
described in the Basis for Qualified Opinion paragraph, the financial statements
present fairly, in all material respects ... (remaining words are the same as the
standard unmodified report)
Auditors Report
Slide 4.1.66
GAAP ViolationInadequate DisclosureAdverse Opinion

We have audited ... (remaining words are the same as the standard
unmodified report)
Management is responsible for (remaining words are the same as the
Our responsibility is to (remaining words are the same as the standard
unmodified report)
Basis for Adverse Opinion
On January 15, 20X7, the Company issued debentures in the amount of xxx
for the purpose of financing plant expansion. The debenture agreement
restricts the payment of future cash dividends to earnings after December
31, 20X6. In our opinion, disclosure of this information is required by . . . . . .
Opinion
In our opinion, because of the effects of the matters discussed in the Basis
for Adverse Opinion paragraph, the financial statements do not present
fairly, in all material respects, the financial position of ABC Company as of
December31, 20X7, and of its financial performance and its cash flows for
the year then ended in accordance with the International
Financial
Reporting Standards.
Auditors Report
Slide 4.1.67
Limitation on ScopeQualified Opinion

unqualified report)
Management is responsible for (remaining words are the same as the
Our responsibility is to ... (remaining words are the same as the standard
unmodified report).
Basis for Qualified Opinion
We did not observe the counting of the physical inventories as of December
31, 20X7, since that date was prior to the time we were initially engaged as
auditors for the Company. Owing to the nature of the Companys records,
we were unable to satisfy ourselves as to inventory quantities by other
audit procedures.
Opinion
In our opinion, except for the possible effects of such adjustments, if any,
as might have been determined to be necessary had we been able to
satisfy ourselves as to physical inventory quantities, the financial
statements present fairly, in all material respects... (remaining words are
the same as the standard unmodified report)
Auditors Report
Slide 4.1.68
Limitation on ScopeDisclaimer of Opinion

We were engaged to audit the accompanying financial statements of ABC
Company, which comprise the statement of financial position as of December 31,
20X7, and the statement of comprehensive income, statement of changes in
equity and statement of cash flows for the year then ended, and a summary of
significant accounting policies and other explanatory information.
Management is responsible for (remaining words are the same as the standard
unmodified report)
Our responsibility is to express an opinion on these financial statements based on
conducting the audit in accordance with Public Sector Standards on Auditing.
Because of the matter described in the Basis for Disclaimer of Opinion paragraph,
however, we were not able to obtain sufficient appropriate audit evidence to
provide a basis for an audit opinion.
Basis for Disclaimer of Opinion

(Add a paragraph discussing the scope limitation as follows:)
We were not able to observe all physical inventories and confirm accounts
receivable due to limitations placed on the scope of our work by the Company.
Opinion
Because of the significance of the matters described in the Basis for Disclaimer of
Opinion paragraph, we do not express an opinion on the financial statements.
Auditors Report
Slide 4.1.69
Unqualified opinion with an emphasis of a matter paragraph

unmodified report)
Management is responsible for (remaining words are the same as
the standard unmodified report)
Our responsibility is to (remaining words are the same as the
Opinion
In our opinion, the financial statements present fairly, in all material
respects ... (remaining words are the same as the standard unmodified
report)
Without qualifying our opinion we draw attention to Note X to the
financial statements. The Company is the defendant in a lawsuit
alleging infringement of certain patent rights and claiming royalties
and punitive damages. The Company has filed a counter action, and
preliminary hearings and discovery proceedings on both actions are in
progress. The ultimate outcome of the matter cannot presently be
determined, and no provision for any liability that may result has been
made in the financial statements.

Auditors Report
Slide 4.1.70

Forming An Opinion and Reporting On Financial Statements

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SESSION 4.

Forming an Opinion and

Trainers Training on PPSSA Session 4.2

Trainers Training on PPSSA Session 4.2

Trainers Training on PPSSA Session 4.12 PPSSA 1700 Forming

700 December 15, 2009

1700 January 29, 2013

Trainers Training on PPSSA Session 4.2

Forming an Opinion and Reporting

Trainers Training on PPSSA Session 4.2

THE AUDITORS REPORT ON

PPSSA 1700 requires the auditor to:

whether sufficient appropriate

Trainers Training on PPSSA Session 4.1

THE AUDITORS REPORT ON

General Purpose Reporting Framework

financial reporting framework

Two types of General Purpose Reporting

Two types of General Purpose Reporting

Complianc A financial reporting framework that requires

The auditor reports on whether the

Forming an Opinion Considerations

Materiali Conclude whether:

Forming an Opinion Considerations

Has sufficient appropriate audit

Trainers Training on PPSSA Session 4.2 PPSSA 1700 Forming

Forming an Opinion Considerations

Do the financial statements

Trainers Training on PPSSA Session 4.2 PPSSA 1700 Forming

Forming an Opinion Considerations

Do the financial statements refer to or

Trainers Training on PPSSA Session 4.2 PPSSA 1700 Forming

Forming an Opinion Considerations

Is the information presented

Trainers Training on PPSSA Session 4.2 PPSSA 1700 Forming

Forming an Opinion Considerations

Do the overall presentation,

Trainers Training on PPSSA Session 4.2 PPSSA 1700 Forming

Forming an Opinion Considerations

Are the financial statements

Trainers Training on PPSSA Session 4.2 PPSSA 1700 Forming

Trainers Training on PPSSA Session 4.1

Basic elements of the auditors

Trainers Training on PPSSA Session 4.1

Basic elements of the

Basic elements of the

Basic elements of the auditors

Basic elements of the auditors

to the summary of significant

Basic elements of the auditors

in accordance with the applicable FRF

Trainers Training on PPSSA Session 4.1

Basic elements of the auditors

state that the responsibility of the auditor is to

Trainers Training on PPSSA Session 4.1

Basic elements of the auditors

The auditors report shall state that the

Trainers Training on PPSSA Session 4.1