Opinions and reports
The Special Framework Report
Special-purpose frameworks and single statements get tailored reports, and use restriction follows the framework.
How the exam words it
- -The stem uses a special-purpose framework: cash, tax, regulatory, or contractual.
- -It reports on a single statement or a specific element under AU-C 805.
- -Other information accompanies the statements, or a fact surfaces after issuance.
- -A predecessor's report on comparatives is involved.
The playbook
- 1Cash and tax basis reports are general use, regulatory and contractual basis reports are restricted use, and all describe the framework in an emphasis-of-matter paragraph.
- 2A single-element or single-statement report identifies what was audited and that it is not an opinion on the statements as a whole.
- 3The auditor reads, but does not audit, other information, and acts on facts discovered after issuance to prevent reliance.
The trap
Restricting a cash or tax basis report. Those frameworks are general use, only regulatory and contractual basis are restricted.
How the exam varies it
The same pattern, re-skinned along these axes:
Which special-purpose frameworkFull statements, a single statement, or a specific elementGeneral use versus restricted use
Drill this pattern
8 questions of The Special Framework Report from across the AUD topics. Clear it by getting 5 right with a streak of 3.