id	author	title	date	pages	extension	mime	words	sentence	flesch	summary	cache	txt
inlawrev-2294	Lucas, Michael P.	Judicial and Administrative Treatment of Accountants' Qualifications and Disclaimers	1978	36	.pdf	application/pdf	16510	723	50	This is in large part due to a misunderstanding of the significance of an auditor's opinion and a failure to recognize that financial statements should primarily be viewed as managements' representations.2 The American Institute of Certified Public Accountants (A.I.C.P.A.), in a recent codification of professional standards, described the objective of the audit process as follows: The objective of the ordinary examination of financial statements by the independent auditor is the expression of an opinion on the fairness with which they present financial position, results of operations, and changes in financial posi- tion in conformity with generally accepted accounting prin- ciples. In all cases wherein an auditor's name is associated with financial statements, the report should contain a clear-cut indication of the character of the auditor's examination, if any, and the degree of responsibility he is taking.	cache/inlawrev-2294.pdf	txt/inlawrev-2294.txt