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      Question

      Which of the following is NOT a key element of an

      independent auditor’s report under SA 700?
      A Opinion Correct Answer Incorrect Answer
      B Basis for Opinion Correct Answer Incorrect Answer
      C Key Audit Matters (for listed entities) Correct Answer Incorrect Answer
      D Management Responsibility Statement signed by auditor Correct Answer Incorrect Answer
      E Other Reporting Responsibilities Correct Answer Incorrect Answer

      Solution

      Management Responsibility statement is included but signed by management, not the auditor. Auditor only includes opinion, basis, KAM, and other responsibilities.

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