What should an emphasis of matter paragraph include when reporting on an incomplete financial presentation in accordance with GAAP?

When reporting on an incomplete financial presentation in accordance with Generally Accepted Accounting Principles (GAAP), it is crucial to include the purpose for which the presentation is prepared in the emphasis of matter paragraph. This inclusion serves to inform the users of the financial statements about the context and limitations of the presentation, clarifying that the financial information provided does not conform to the full disclosure requirements typically expected in GAAP-compliant financial statements.

Including the purpose assists users in understanding the intended use of the financial statements, which is particularly important when the information may not reflect the complete financial position or results of operations of the entity. This helps mitigate potential misinterpretations and establishes transparency, helping users make more informed decisions based on the incomplete presentation.

The other options would not be appropriate for inclusion in this specific context. The complete audit findings encompass detailed information about the audit that may not be relevant or necessary for users at this stage. A management representation letter is internal documentation and does not provide users outside the organization with relevant context. Lastly, stating the audit opinion is essential in the audit report but would not be situated in the emphasis of matter section regarding the incomplete nature of the financial presentation.