Auditing and Attestation - Certified Public Accountant (CPA) Practice Exam 2026 - Free CPA Practice Questions and Study Guide

In the context of a nonissuer auditor's report, it’s essential for both the Auditor's Responsibility section and the Opinion section to refer to generally accepted auditing standards. The Auditor's Responsibility paragraph typically outlines the auditor's obligations and the framework of the auditing process, including the adherence to these standards. This establishes the credibility of the audit work performed and assures users of the financial statements that the audit has been conducted according to established guidelines, ensuring quality and reliability in the results.

The Opinion paragraph communicates the auditor's conclusion regarding the fairness of the financial statements. Reference to generally accepted auditing principles here solidifies the basis for the opinion provided, reinforcing that the conclusion reached has been derived from a process grounded in recognized standards. This provides confidence to the users of the financial statements regarding the validity of the auditor's assessment.

When the Auditor's Responsibility and Opinion paragraphs refer to these commonly accepted standards, it emphasizes the professionalism and rigor of the audit process, crucial for establishing trust and integrity in the reporting. Thus, highlighting this relation in both specific sections enhances the overall understanding and assurance of the quality of the audit performed.