the fourth standard of reporting requires the auditor rsquo s report to contain eith 602312

The fourth standard of reporting requires the auditor’s report to contain either an expression of opinion regarding the financial statements taken as a whole or an assertion to the effect that an opinion cannot be expressed. The objective of the fourth standard is to prevent

1. An auditor from expressing different opinions on each of the basic financial statements.
2. Restrictions on the scope of the audit, whether imposed by the client or by the inability to obtain evidence.
3. Misinterpretations regarding the degree of responsibility the auditor is assuming.
4. An auditor from reporting on one basic financial statement and not the others.