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Ernst & Young's submission to the AUASB regarding the Proposed Standard on Assurance Engagements involving Corporate Fundraisings and/or Prospective Financial Information, detailing support for development,
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asa 700 - forming is an auditing standard that provides guidance on the responsibilities of the auditor when forming an opinion on the financial statements of an entity.
Auditors are required to follow asa 700 - forming when conducting financial statement audits.
To fill out asa 700 - forming, auditors should carefully read the standard and ensure they understand and adhere to the requirements and guidelines outlined.
The purpose of asa 700 - forming is to establish standards and provide guidance on the responsibilities of auditors when forming an opinion on financial statements.
Asa 700 - forming does not specifically require reporting of information. Instead, it outlines the auditor's responsibilities in forming an opinion on the financial statements.
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