Learning Objectives LO1 Describe the association framework. LO2 Determine whether a PA is associated with financial statements. LO3 Describe the three.

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Learning Objectives LO1 Describe the association framework. LO2 Determine whether a PA is associated with financial statements. LO3 Describe the three levels of assurance. LO4 Compare and contrast the scope and opinion paragraphs in an independent auditor’s report. LO5 For a given set of accounting facts and audit circumstances, analyze qualified, adverse, and disclaimer audit reports. LO6 Determine the effects of materiality and uncertainty on audit report choices. 1

The Association Framework Association is a term used within the profession to indicate a public accountant’s involvement with an enterprise or with information issued by that enterprise. LO1 2

The Association Framework Association can arise in three ways:  Through some action, the PA associates him or herself with information issued by the enterprise.  Without the PA’s knowledge or consent, the enterprise indicates that the PA was involved with information issued by them.  A third party assumes the PA is involved with information issued by an enterprise. LO1 3

PA’s Professional Responsibilities When associated with information, responsibilities include the following:  Applicable standards in the CICA Handbook must be met.  The PA complies with their provincial institute’s rules of professional conduct.  There is appropriate communication of the extent of their involvement with the information. LO1 4