When the financial statements contain a departure from generally accepted accounting principles, the effect of which is
Question:
When the financial statements contain a departure from generally accepted accounting principles, the effect of which is material, the auditor should
a. Qualify the opinion and describe the departure from generally accepted accounting principles within the opinion paragraph.
b. Qualify the opinion and explain the effect of the departure from generally accepted accounting principles in an explanatory paragraph.
c. Disclaim an opinion and explain the effect of the departure from generally accepted accounting principles in an explanatory paragraph.
d. Disclaim an opinion and describe the departure from generally accepted accounting principles within the opinion paragraph.
Step by Step Answer:
Auditing Integrated Concepts And Procedures
ISBN: 9781260299397
5th Edition
Authors: Donald H. Taylor, G. William Glezen