In which of the following situations would an auditor ordinarily issue an unqualified or unmodified financial statement audit opinion with no explanatory (or emphasis-of-matter or other-matter) paragraph? Multiple Choice O The auditor decides not to refer to the report of another auditor as a basis, in part, for the auditor's opinion. The auditor wishes to emphasize that the entity had significant related- party transactions. The auditor has substantial doubt about the entity's ability to continue as a going concern, but the circumstances are fully disclosed in the financial statements. The entity issues financial statements that present financial position and results of operations but omits the statement of cash flows.

In which of the following situations would an auditor ordinarily issue an unqualified or unmodified financial statement audit opinion with no explanatory (or emphasis-of-matter or other-matter) paragraph? Multiple Choice O The auditor decides not to refer to the report of another auditor as a basis, in part, for the auditor's opinion. The auditor wishes to emphasize that the entity had significant related- party transactions. The auditor has substantial doubt about the entity's ability to continue as a going concern, but the circumstances are fully disclosed in the financial statements. The entity issues financial statements that present financial position and results of operations but omits the statement of cash flows.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

In which of the following situations would an auditor ordinarily issue an unqualified or
unmodified financial statement audit opinion with no explanatory (or emphasis-of-matter or
other-matter) paragraph?
Multiple Choice
O
O
The auditor decides not to refer to the report of another auditor as a basis,
in part, for the auditor's opinion..
The auditor wishes to emphasize that the entity had significant related-
party transactions.
The auditor has substantial doubt about the entity's ability to continue as a
going concern, but the circumstances are fully disclosed in the financial
statements.
The entity issues financial statements that present financial position and
results of operations but omits the statement of cash flows..

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