Question: Auditors found that the entity has not capitalized a material amount of leases in the financial statements. When considering the materiality of this departure from

Auditors found that the entity has not capitalized a material amount of leases in the financial statements. When considering the materiality of this departure from GAAP, the auditors would choose between which reporting options?
a. Unmodified opinion or disclaimer of opinion.
b. Unmodified opinion or qualified opinion.
c. Unmodified opinion with an emphasis- of- matter paragraph or an adverse opinion.
d. Qualified opinion or adverse opinion.

Step by Step Solution

3.51 Rating (164 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

a Incorrect Neither unmodified opinions or disclaimers of opinion are appropriate for ... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Document Format (1 attachment)

Word file Icon

332-B-A-A-A-N (2225).docx

120 KBs Word File

Students Have Also Explored These Related Auditing Questions!