When an auditor concludes that there is a significant doubt on the entity's ability to continue as a going concern for a period, the auditor is responsible to: Withdraw the audit engagement. Report to the company's shareholder. Express a qualified or adverse opinion, depending upon materiality. Adequate disclosure of the nature and implication of the uncertainty.
When an auditor concludes that there is a significant doubt on the entity's ability to continue as a going concern for a period, the auditor is responsible to: Withdraw the audit engagement. Report to the company's shareholder. Express a qualified or adverse opinion, depending upon materiality. Adequate disclosure of the nature and implication of the uncertainty.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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