What does emphasis-of-matter paragraph mean on the CPA exam?
Emphasis-of-matter paragraph. A paragraph drawing attention to something already properly presented in the statements. It does not modify the opinion.
Defined against AU-C 706.07.
Which CPA exam sections use emphasis-of-matter paragraph?
Emphasis-of-matter paragraph appears in the AUD section of the CPA exam.
Related terms
- reporting entity: The unit whose statements are being presented, including everything it controls.
- unqualified opinion: The clean opinion: the statements are presented fairly in all material respects.
- contract asset: The right to consideration for goods or services already transferred, where the right still depends on something other than the passage of time.
- contract liability: The obligation to transfer goods or services for which the customer has already paid, or for which payment is unconditionally due.