Final answer:
The phrase "auditing standards generally accepted in the United States of America" can be found in the opinion paragraph of a standard unmodified opinion report for a nonpublic company.
Step-by-step explanation:
In the opinion paragraph of a standard unmodified opinion report for a nonpublic company, you can find the phrase "auditing standards generally accepted in the United States of America." This phrase is commonly used in the opinion paragraph to indicate that the audit was conducted in accordance with the generally accepted auditing standards (GAAS) established by the American Institute of Certified Public Accountants (AICPA).
The AICPA's GAAS sets out the principles and procedures that auditors should follow when conducting an audit. These standards ensure that the audit is carried out with professional competence, independence, objectivity, and due care.
In the context of a nonpublic company, the phrase indicates that the audit report is based on the auditing standards established in the United States and accepted by the accounting profession. This phrase is not specific to any particular subject, such as Mathematics, History, or Biology, but rather pertains to the field of Business and Accounting.