Solution-Which sets of circumstances might an auditor

Which sets of circumstances might an auditor disclaim

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Reference no: EM132804321

problem 1: An auditor's report includes a statement that "the financial statements do not present fairly the financial position in conformity with generally accepted accounting principles." This auditor's report was probably issued in connection with financial statements that were

a. Prepared on a comprehensive basis for accounting other than GAAP.
b. Restricted for use by management.
c. Misleading.
d. Condensed.

problem 2: If the auditor believes there is minimal likelihood that resolution of an uncertainty will have a material effect on the financial statements, the auditor would issue a(n)

a. Qualified opinion.
b. Adverse opinion.
c. Unqualified opinion.
d. Disclaimer of opinion.

problem 3: Under which of the following sets of circumstances might an auditor disclaim an opinion?

a. The financial statements contain a departure from GAAP, the effect of which is material.
b. The principal auditor decides to make reference to the report of another auditor who audited a subsidiary.
c. There has been a material change between periods in the method of the application of accounting principles.
d. There were significant limitations on the scope of the audit.

Reference no: EM132804321

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Which sets of circumstances might an auditor disclaim

Reference no: EM132804321

Reference no: EM132804321

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