Question: An auditor disclaims responsibility when: (a) The users cannot rely on the financial report. (b) The audit opinion is unqualified and unmodified. (c) The auditor

An auditor disclaims responsibility when:
(a) The users cannot rely on the financial report.
(b) The audit opinion is unqualified and unmodified.
(c) The auditor is unable to obtain sufficient evidence about a potentially material and pervasive matter.
(d) The audit opinion is unqualified and the auditor includes a paragraph in the audit report to emphasise something important.

Step by Step Solution

★★★★★

3.31 Rating (154 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

An auditor disclaims responsibility when c The auditor is unable to ob... View full answer

Question Has Been Solved by an Expert!

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

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Auditing A Practical Approach Questions!

An auditor disclaims responsibility when: (a) The users cannot rely on the financial report. (b) The audit opinion is unqualified and unmodified. (c) The auditor is unable to obtain sufficient...

Multiple Choice 1. In which of the following situations would an auditor ordinarily issue an unqualified/ unmodified financial statement audit opinion with no explanatory ( or emphasis- of- matter/...

1. Which of the following are included as an auditors responsibility? Use professional judgement Discover all errors and fraud Act with due care Use professional skepticism Issue an unmodified...

An auditor disclaims responsibility when: the users cannot rely on the financial statements. the audit opinion is unqualified and the auditor includes a paragraph in the audit report to emphasize...

An auditor disclaims responsibility when: the auditor is unable to obtain sufficient evidence about a potentially material and pervasive matter. the audit opinion is unqualified and unmodified. the...

Question 21. According to ISA 402, Audit Considerations Relating to an Entity Using a Service Organization, which of the following shall the auditor perform if the auditor chooses to use the report...

identify and explain five examples where executives or directors faced moral hazards and did not deal with them ethically globa ow ied on lendin to be applied on a gh ns nd ie asis The accounting...

Assignment: Auditor's Report For each of the following independent scenarios, refer to current PCAOB auditing standards to identify the appropriate audit opinion (unqualified, qualified, adverse,...

Q. Case Study - Adelphia Communications Corporation Give a background of the firm/corporation as well as a background of the auditing firm. Write a key financial statistics for the firm Write a well...

The Senate consists of 100 senators, of whom 34 are Republicans and 66 are Democrats. A bill to increase defense appropriations is before the Senate. Thirty-five percent of the Democrats and 70% of...

According to a marketing website, adults in a certain country average 55 minutes per day on mobile devices this year. Assume that minutes per day on mobile devices follow the normal distribution and...

What is the advantage of using an uncoded format for a scale variable in a questionnaire, rather than coding it into groups?

=+The following account appears in the ledger after only part ofthe postings have been completed for January: Work in Process Balance, January 1 $15,500 Direct materials 86,200 Direct labor 64,300...

You are reviewing the audit work for Online Ltd., a large Canadian company. Online uses a service bureau to process all wages. Time sheets are authorized by the appropriate supervisor, batched, and...

MO has a high volume of casual staff who work during peak season to support the increase in workload in the following main areas: 1. distribution: warehouse staff to pack, store, and receive goods 2....

Organizational change. 1 Analysis of organizational change 2 Resistance, overcoming and management of organizational change. 3 Role of the administrator for organizational change. 4 Individual...

Disney Company has estimated breakeven volume of 60,000 units for a new widget. If fixed costs are $150,000, selling price is $25 and Disney sales force commission is 10% of selling price, what is...

11) A financial market in which only short-term debt instruments are traded is called the market. A) bond B) money C) capital D) stock