Subsequent to the date of the financial statements as part of his post balance sheet date auditprocedures a CPA learned that a recent fire caused heavy damage to one of a client's two plants ;the loss will not be reimursed by insurance. The newspapers described the event in detail.. thefinacial statements and footnotes as prepared by the client did not disclose the loss caused by thefire. Which of the following is a condition requiring a departure from a standard unmodified auditopinion
Subsequent to the date of the financial statements as part of his post balance sheet date auditprocedures a CPA learned that a recent fire caused heavy damage to one of a client's two plants ;the loss will not be reimursed by insurance. The newspapers described the event in detail.. thefinacial statements and footnotes as prepared by the client did not disclose the loss caused by thefire. Which of the following is a condition requiring a departure from a standard unmodified auditopinion
Auditing: A Risk Based-Approach (MindTap Course List)
11th Edition
ISBN:9781337619455
Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Chapter15: Audit Reports For Financial Statement Audits
Section: Chapter Questions
Problem 19RQSC
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Question
Subsequent to the date of the financial statements as part of his post
A. |
Failure to follow GAAP |
|
B. |
Scope restriction |
|
C. |
Change in Accounting Principle |
|
D. |
None of the above |
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