Auditing And Assurance Services
17th Edition
ISBN: 9780134897431
Author: ARENS, Alvin A.
Publisher: PEARSON
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Question
Chapter 3, Problem 19RQ
To determine
Identify whether the auditor discovers more than one condition that requires departure from or modification of the standard unmodified opinion audit report, what auditor’s report should include.
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Students have asked these similar questions
What happens when the auditor cannot issue the standard unqualified/unmodified audit report?
What type of situation would require an auditor to give an unmodified opinion without a standard report. Why would their opinion have to be modified?
When an auditor is faced with a
material departure from GAAP
that is pervasive, which of the
following should the audit report
contain?
a.
b.
C.
d.
A disclaimer of
opinion.
A qualified opinion
with an explanatory
paragraph.
An adverse opinion.
An unqualified
opinion.
Chapter 3 Solutions
Auditing And Assurance Services
Ch. 3 - Prob. 1RQCh. 3 - Prob. 2RQCh. 3 - Prob. 3RQCh. 3 - Prob. 4RQCh. 3 - Prob. 5RQCh. 3 - Prob. 6RQCh. 3 - Prob. 7RQCh. 3 - Prob. 8RQCh. 3 - Prob. 9RQCh. 3 - Prob. 10RQ
Ch. 3 - Prob. 11RQCh. 3 - Prob. 12RQCh. 3 - Prob. 13RQCh. 3 - Prob. 14RQCh. 3 - Distinguish between a report qualified due to a...Ch. 3 - Prob. 16RQCh. 3 - Prob. 17RQCh. 3 - Prob. 18RQCh. 3 - Prob. 19RQCh. 3 - Prob. 20.1MCQCh. 3 - Prob. 20.2MCQCh. 3 - Prob. 20.3MCQCh. 3 - Prob. 21.1MCQCh. 3 - Prob. 21.2MCQCh. 3 - Prob. 21.3MCQCh. 3 - Prob. 22.1MCQCh. 3 - Prob. 22.2MCQCh. 3 - Prob. 22.3MCQCh. 3 - Prob. 23DQPCh. 3 - Prob. 24DQPCh. 3 - Prob. 25DQPCh. 3 - Prob. 26DQPCh. 3 - Prob. 28DQPCh. 3 - Prob. 29DQP
Knowledge Booster
Similar questions
- Why should receiving reports be prenumbered? What assertion would an auditor test using thereceiving reports, and how would the auditor do this?arrow_forwardAn opinion based in part on the report of another auditor requires a modified wording in the standard unqualified audit report. True O Falsearrow_forwardExplain the conditions that require a departure from an unqualified audit report.arrow_forward
- What type of audit opinion is expressed by an auditor performing a limited scope audit? Select one: a. Disclaimer b. Unqualified c. Qualified d. Adversearrow_forwardWhat are the advantages and disadvantages of disclaimer audit opinionarrow_forwardWhich of the following characteristics is not a measure of the appropriateness of audit evidence? Quality of audit evidence. Relevance of evidence in providing support for, or detecting, misstatements in transactions, balances, disclosures and related assertions. Reliability of audit evidence Quantity of the audit evidencearrow_forward
- Explain when performing an auditor, the auditor could sometimes be permitting the sumof the tolerable misstatement to exceed overall materialityarrow_forwardWhat category of audit report will be issued if the auditor concludes that the financial statementsare not fairly presented? A. qualified B. adverse C. standard unmodified opinion D. disclaimerarrow_forwardThe auditor may add an explanatory paragraph to the unqualified audit report in the following circumstances, except: a. The scope of the audit has been restricted b. There is emphasis of a matter c. Doubt about the going concern assumption is substantial d. Departure from GAAP is justifiedarrow_forward
- How does the auditor’s opinion differ between scope limitationscaused by client restrictions and limitations resulting from conditions beyond the client’scontrol? Under which of these two will the auditor be most likely to issue a disclaimer ofopinion? Explain.arrow_forwardIf a material exception relates to a departure from PFRSs, the auditor may issue either: A. Unmodified and modified opinion B. Adverse and qualified opinion C. Adverse and disclaimer opinion D. Qualified and disclaimer opinionarrow_forwardWhat is the appropriate nature of opinion when the auditor is unable to obtain sufficient appropriate audit evidence on which to base the opinion, but the auditor concludes that the possible effects on the financial statements of undetected misstatements, if any, could be material but not pervasive? a. Unmodified opinion. b. Disclaimer of opinion. c. Qualified opinion. d. Adverse opinion.arrow_forward
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