At the end of her audit of Jolie Angelique Inc , Emma concludes that there are material misstatements affecting many accounts, with the result that the financial statements as a whole are misleading The companys management refuses to adjust the financial statements, however Required a List the four...

Form of opinion misleading financial statements a 1 Disclaimer 2 Adverse 3 Qualified scop ...

At the end of her audit of Jolie Angelique Inc., Emma concludes that there are material misstatements

Question:

At the end of her audit of Jolie Angelique Inc., Emma concludes that there are material misstatements affecting many accounts, with the result that the as a whole are misleading. The company’s management refuses to adjust the however.

Required:
a. List the four forms of modified audit opinions set out in CAS 705.
b. Explain which form of audit opinion would be appropriate in this situation.

Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...