ISA 700 FORMING AN OPINION AND REPORTING ON FINANCIAL STATEMENTS

 ISA 700 is effective for audits of financial statements for periods ending on or after December 15, 2016

ISA 700 deals with the auditor’s responsibility to form an opinion on the financial statements and the form and content of the auditor’s report issued as a result of an audit of financial statements. This ISA applies to an audit of a complete set of general purpose financial statements. ISA 700 gives the definition of unmodified audit opinion.

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