Your firm has been engaged to audit a private company that uses a tax basis of accounting to prepare the rather than using generally accepted accounting principles (). You remember learning about special purpose frameworks in one of your college courses. You decide to research the issue and access AU-C 800 through the AICPA website at www.aicpa.org.
Required
a. Can your firm accept the engagement if the client does not use in the preparation of Cite where you found the answer in the standard (the paragraph number).
b. When a client uses a special purpose framework, will the format of an unmodified be different than when a client uses ? Research AU-C 800 and then copy and paste an example of an auditor’s report on a set of prepared in accordance with the tax basis of accounting. Discuss the similarities and differences of the report with the unmodified from Illustration 15.1.
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