Upon conclusion of the audit of Marrow Enterprises, the audit firm noted that they have been unable to audit a significant portion of the client's inventory, despite their best efforts. As a result of this, what might the auditors decide to do? O The auditors will likely issue an adverse opinion on the financial statements, on the presumption that the client is attempting to conceal fraud. O The aditors will most likely issue a disclaimer of opinion on the client's financial statements. O The auditors will likely proceed with issuance of a scope limitation, related to the inventory that they were unable to audit. O The auditors will likely consider issuing a qualified opinion related to the inventory accounts, in order to draw stakeholder attention to this area.
Upon conclusion of the audit of Marrow Enterprises, the audit firm noted that they have been unable to audit a significant portion of the client's inventory, despite their best efforts. As a result of this, what might the auditors decide to do? O The auditors will likely issue an adverse opinion on the financial statements, on the presumption that the client is attempting to conceal fraud. O The aditors will most likely issue a disclaimer of opinion on the client's financial statements. O The auditors will likely proceed with issuance of a scope limitation, related to the inventory that they were unable to audit. O The auditors will likely consider issuing a qualified opinion related to the inventory accounts, in order to draw stakeholder attention to this area.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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plese help me find out what is the correct answer choice?
Transcribed Image Text:Upon conclusion of the audit of Marrow Enterprises, the audit firm noted that they have been unable to audit a significant portion of
the client's inventory, despite their best efforts. As a result of this, what might the auditors decide to do?
O The auditors will likely issue an adverse opinion on the financial statements, on the presumption that the client is attempting
to conceal fraud.
O The aditors will most likely issue a disclaimer of opinion on the client's financial statements.
O The auditors will likely proceed with issuance of a scope limitation, related to the inventory that they were unable to audit.
O The auditors will likely consider issuing a qualified opinion related to the inventory accounts, in order to draw stakeholder
attention to this area.
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