The following table outlines various scenarios in which an auditor will determine the appropriate audit opinion to issue. Note that the auditor's professional judgment about the nature of the matter giving rise to the modification and the pervasiveness of its effects or possible effects on the financial statements affects the type of opinion to be expressed. Complete the following table to identify the report that should be issued by theauditor.
Answer to relevant QuestionsAudit situations 1, through 8, presented below describe various independent factual situations an auditor might encounter in conducting an audit. List A represents the types of opinions the auditor ordinarily would issue, ...Review the audit report of Coca-Cola in Panel A of Exhibit 15.1. Obtain a copy of the audit report in the 2011 Annual Report of 3D Diagnostic Imaging plc, which is available at http://www.3ddiagnosticimaging.com/ ...When a client has a justified departure from GAAP, how should the auditor modify the audit report?Obtain the 2012 10-K Annual Report for Overland Storage, Inc. (OVRL). Refer to Note 1 on page F-7. Based on management’s discussion in the note, what type of audit report did Overland’s audit firm likely issue? In this ...What factors make materiality decisions complex and judgmental?
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