U.S.CPA練習題精選：AUD 10

Field is an employee of Gold Enterprises. Hardy, CPA, is asked to express an opinion on Field's profit participation in Gold's net income. Hardy may accept this engagement only if:

a. Hardy also audits Gold's income statement and balance sheet.

b. Gold's financial statements are prepared in conformity with GAAP.

c. Hardy's report is available for distribution to Gold's other employees.

d. Field owns controlling interest in Gold.

答案：A

Explanation

Choice "a" is correct. The engagement described is one to express an opinion on a specified element, account, or item of the financial statements. Since Field's profit participation is based on Gold's net income or stockholders' equity, Hardy can accept the engagement only if Hardy also audits and expresses an opinion on the entity's income statement and balance sheet.

Choice "b" is incorrect. If the auditor can express an opinion that the specified elements, accounts, or items are presented fairly on a basis of accounting other than GAAP, then the auditor can accept the engagement.

Choice "c" is incorrect. Hardy's report need not be available for distribution to Gold's other employees. Usually the distribution of this type of report is restricted to those within the entity and the parties to the contract or agreement. This is necessary because the basis of presentation is determined by reference to a document that would not generally be available to other third parties. Mandatory distribution of an audit report is never required.

Choice "d" is incorrect. Field does not need to own a controlling interest in Gold.