Which item regarding an Emphasis of Matter paragraph is true? a. The auditor will use the E of M to restrict distribution of the audit report. b. The auditor will use the E of M when the client has corrected an error in the previous financial statements. c. An E of M will be used when a material error exists in the current financial statements. d. The E of M paragraph is usually located immediately before the opinion paragraph. e. The E of M paragraph would be used to discuss a client's change in the method to estimate bad debts.
Which item regarding an Emphasis of Matter paragraph is true? a. The auditor will use the E of M to restrict distribution of the audit report. b. The auditor will use the E of M when the client has corrected an error in the previous financial statements. c. An E of M will be used when a material error exists in the current financial statements. d. The E of M paragraph is usually located immediately before the opinion paragraph. e. The E of M paragraph would be used to discuss a client's change in the method to estimate bad debts.
Auditing: A Risk Based-Approach to Conducting a Quality Audit
10th Edition
ISBN:9781305080577
Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Chapter1: Auditing: Integral To The Economy
Section: Chapter Questions
Problem 16MCQ
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Question
Which item regarding an Emphasis of Matter paragraph is true?
a.
The auditor will use the E of M to restrict distribution of the audit report.
b.
The auditor will use the E of M when the client has corrected an error in the previous financial statements.
c.
An E of M will be used when a material error exists in the current financial statements.
d.
The E of M paragraph is usually located immediately before the opinion paragraph.
e.
The E of M paragraph would be used to discuss a client's change in the method to estimate bad debts.
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