term used in the auditor's report where there exists adequate disclosure, reasonable detail, and absence of bias. Adequate disclosure requires all management information necessary to interpret financial statements. Reasonable detail requires that certain particulars of broad statement classifications be presented, such as intangible assets that are broken down into types. Absence of bias means that the auditor is independent and impartial and does not favor one party over another (i.e., stockholder over investor).
term used in the auditor's report where there exists sufficient disclosure, reasonable detail, and absence of bias. Adequate disclosure requires all management information necessary to interpret financial statements.Reasonable detail requires that certain particulars of broad statement classifications be presented, such as intangible assets that are broken down into types.Absence of bias means that the auditor is independent and impartial and does not favor one party over another (i.e., stockholder over investor).
