If an auditor is engaged to audit a client’s financial statements after the annual physical inventory count was made and the accounting records are not sufficiently reliable to enable the auditor to become satisfied as to the year-end inventory balances, the opinion to be expressed is
If an auditor is engaged to audit a client’s financial statements after the annual physical inventory count was made and the accounting records are not sufficiently reliable to enable the auditor to become satisfied as to the year-end inventory balances, the opinion to be expressed is
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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91
If an auditor is engaged to audit a client’s financial statements after the annual physical inventory count was made and the accounting records are not sufficiently reliable to enable the auditor to become satisfied as to the year-end inventory balances, the opinion to be expressed is
Group of answer choices
a. either an adverse opinion or disclaimer of opinion.
b. either a disclaimer or opinion or an “except for” qualified opinion.
c. either an “except for” qualified opinion or an adverse opinion.
d. an unqualified opinion.
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