INTRODUCTORY PARAGRAPH Definition

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INTRODUCTORY PARAGRAPH, in an auditor's report, is the first paragraph of the auditor's standard report which identifies the financial statements audited and states the financial statements are the responsibility of management and that the auditor's responsibility is to express an opinion on the financial statements based on the audit.

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RELEVANT RANGE is the range of activity over which changes in cost are of interest to management

CHECK DIGIT is a redundant digit added to a code to check accuracy of other characters in the code.

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