The June 1, 2017, issue of the Wall Street Journal includes an article by Michael Rapoport entitled “Coming Soon: What Auditors Really Think About Company Numbers.” It provides a discussion about changes to be made to the auditor’s report.
Instructions
Read the article and answer the following questions.
a. What does the current auditor’s report primarily focus on?
b. What will the new report provide beyond the current report? what are some examples of items that might be discussed?
c. How would the requirements of the new report compare to the requirements of auditor reports in other countries?
d. What criteria must be met in other for an item to be disclosed in the new report?
