Audits of A Audits of A Audits of Single F/S Engagements to

Complete Set of Complete Set of and Specific Report (Not to Audit)

General Purpose Special Purpose Elements, Accounts, on Summary F/S
F/S F/S or Items of F/S
Subject Matter A complete set of A complete set of A single financial or Summary of
general purpose special purpose specific item of a general or special
financial financial financial statement purpose financial
statements statements that may be statements
general or special
purpose
Financial General Purpose Special Purpose General Purpose or Certain applied
Reporting Special Purpose criteria used by
Framework management to
prepare summary
F/S
Auditor’s Opinion Whether F/S Whether F/S are Whether F/S (or Whether summary
present fairly… prepared… the specific F/S are consistent
financial with (or a fair
information) summary of) the
present fairly… audited F/S
Emphasis of Only when Required in order 1. General 1. General
Matter in the necessary to alert users of purpose- purpose-
auditor’s report specialized nature only when only when
of F/S necessary necessary
2. Special 2. Special
purpose- purpose-
required required
Report Restriction Not restricted May be restricted 1. General 1. General
purpose- purpose-
not not
restricted restricted
2. Special 2. Special
purpose- purpose-
may be may be
restricted restricted