Question: An auditor has concluded that substantial doubt exists and that the client will not be able to meet its obligations as they become due for
An auditor has concluded that substantial doubt exists and that the client will not be able to meet its obligations as they become due for a reasonable period of time. Financial statement and footnote disclosures are adequate, detailing the conditions, events, and management's plans to alleviate the doubt. However, the CPA believes that substantial doubt remains. The CPA must add a Going Concern section to the audit report, discussing the Substantial Doubt. How should the audit opinion be modified? Question 16Answer a. No modification. b. A qualified opinion. c. An adverse opinion. d. A disclaimer of opinion
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
