On completion of the examination of his client's financial statements the CPA. in his report, must either
Question:
On completion of the examination of his client's financial statements the CPA. in his report, must either express an opinion or disclaim an opinion on the statements taken as a whole. His opinion may be unqualified, qualified, or adverse.
Required:
a. Under what general conditions may a CPA express an unqualified opinion on his client's financial statements?
b. Define and distinguish among (1) a qualified opinion. (2) an adverse opinion, and (3) disclaimer of opinion on the statements taken as a whole.
c. Indicate the effect of the opinions in
(b) above on the form of the auditor's report.
d. Indicate the proper qualifying language for the opinions in
(b) above.
Step by Step Answer:
Modern Auditing
ISBN: 9780471542834
5th Edition
Authors: Walter Gerry Kell, William C. Boynton, Richard E. Ziegler