f it is necessary to amend other information in a document containing audited financial statements and the entity refuses to make the amendment, the auditor would consider issuing *       A. Qualified or disclaimer of opinion       B. Qualified or adverse opinion

Q: Describe what an auditor should do if an attorney refuses to give information that is within the…

A: This question explains about the attorney's authority and might have a direct impact on the…

Q: A CPA audits the financial statements of an issuer. Which statement relating to CAMs is TRUE? a. If…

A: Critical Audit Matters which is also written as CAMs are the matters which arises from the audit and…

Q: Which one of the following opinion will be issued by the auditor, if the misstatement in the…

A: Types of Auditor's Opinion : There are the four types of Auditor's opinion    Disclaimer : If the…

Q: S1: The representation letter must be addressed to the board of directors or stockholders of the…

A: Solution: False,  The representation letter must be addressed to the auditor of the company True, he…

Q: When comparative financial statements are presented but the predecessor auditor's report is not…

A: There are certain duty and responsibility of auditor that is  sufficient and appropriate audit…

Q: Departures from GAAP. For each of the following departures from GAAP, indicate thetype of opinion…

A: Audit opinions are the opinions given by the auditor about the financial statements. There are…

Q: When an auditor qualifies an opinion because of inadequate disclosure, the auditor should describe…

A: An auditor auditing the financial statement is required to those proper disclosures have been made.…

Q: Which of the following statements is most likely to be included in an attorney letter?a. “Certain…

A:

Q: All of the following are causes for the addition of an explanatory paragraph except for: Select one:…

A: Audit report contains the details about the findings of the auditor in the process of audit and…

Q: When the auditor expresses an unqualified opinion, a separate paragraph is added to the report…

A: An Auditor will express an unqualified opinion when financial statements are prepared  in all…

Q: What is the appropriate nature of opinion when the auditor having obtained sufficient appropriate…

A: The auditor will express an Adverse opinion when the auditor obtains all the necessary proofs and…

Q: Which may not be shown in an auditor's report of a non listed entity?  A. Auditor's address  B.…

A: This question is answered as per ISA 701

Q: The Auditor's Report

A: The auditor's report typically includes a statement of the responsibilities of the auditor and…

Q: A change in accounting principle requires a modification of the wording standard unqualified audit…

A: An unqualified opinion is issued by an independent auditor when he/she determines that the financial…

Q: How is the auditors’ standard (unmodified) report modified for qualified or adverse opinionsissued…

A: The auditors usually issue an unmodified only in case of disclosures and accounting policies…

Q: In an auditor's report the absence of any reference to a material uncertainty about the entity’s…

A: Going concern means the assumption of the entity that it will go on and would be able to pay off its…

Q: n, which of the following should be included in the opinion paragraph?     The reasons the…

A: The Generally Accepted Accounting Principles (GAAP ) are a collection of accounting rules and…

Q: Under what circumstances auditor may express an unqualified opinion? 1. The view presented by the…

A: Auditor's opinion refers to the report, which is issued to the management after a complete audit of…

Q: s1: The auditor's report shall include a section with a heading "Responsibilities of Management for…

A: Solution: True,  The auditor's report shall include a section with a heading "Responsibilities of…

Q: a) Explain why auditors’ reports are important to users of financial statements and why it   is…

A: Auditing means an examination of the financial statements of the company and ensuring that…

Q: Which of the following information is not shown in the opinion paragraph A. The accounting policies…

A: This questiontion is answered as per international standards on auditing

Q: Materiality arises when a misstatement in the financial statements could affect a decision of a…

A: In auditing, materiality is a concept used to determine the significance of financial statement…

Q: ment of materiality guides audit planning and testing   materiality is used to guide the validity…

A: To find the incorrect option as,

Q: If a material exception relates to a departure from PFRSs, the auditor may issue either: A.…

A: Solution: If a material exception relates to a departure from PFRSs, the auditor may issue either…

Q: When an auditor is faced with a material departure from GAAP that is pervasive, which of the…

A: Lets understand the basics. Audit is an examination of books of account in order to form opinion on…

Q: Which of the following statements is correct concerning an auditor’s responsibilities regarding…

A: Auditor's responsibilities to express an opinion on audited financial statements. They encompass…

Q: In an adverse opinion is expressed on the audited FS, the auditor shall express a disclaimer of…

A: Auditor opinion is statement the statement by independent auditor on finalizing statement of entity.…

Q: Under which clause of ISA, the auditor's responsibilities relating to prevention and detection of…

A: Auditor is the person who is responsible for audit work. Audit means examination or review of books…

Q: The following does not constitute fair presentation and compliance with IFRS: a)  an entity rectify…

A: IFRS refers to International Financial Reporting Standards. It is a set of rules or guidelines which…

Q: An opinion based in part on the report of another auditor requires a modified wording in the…

A: Audit is the process of checking and verifying the authenticity of financial statements which are…

Q: when the auditor lack independence he or she will issue disclaimer opinion Select one: True False

A: Ans. Auditor's independence at work is very crucial as it assists in discharging his duties properly…

Q: discuss the type of opinion is issued by the auditorr if he or she is unable to determine the…

A: Introduction: Auditing is the process of verifying, validating, and continuously investigating all…

Q: Which item regarding an Emphasis of Matter paragraph is true? a. The auditor will use the E of M to…

A: Emphasis of Matter paragraph – A paragraph included in the auditor's report that refers to a matter…

Q: What is the appropriate nature of opinion when the auditor is unable to obtain sufficient…

A: Auditor's opinion is a report based on the audit of a company's financial statement. Therefore, it…

Q: The scope of an audit is not restricted when an attorney letter limits the response toa. Matters to…

A:

Q: How is the auditors’ responsibility for expressing the opinion on financial statements disclosed in…

A:

Q: When an event impacts a financial statement element, it should be recognized in the accounting…

A: The financial statements of a company are prepared at the end of an accounting year which shows the…

Q: : The auditor's report on the group financial statements shall not refer to a component auditor,…

A: Solution: True, The auditor's report on the group financial statements shall not refer to a…