Question: An auditor would issue a standard unmodified (unqualified) audit report with an emphasis of matter paragraph or modified wording when: A. There is substantial doubt

An auditor would issue a standard unmodified (unqualified) audit report with an emphasis of matter paragraph or modified wording when:

A. There is substantial doubt about the clients going concern only.

B. The financial statements do not follow GAAP and are materially misstated only.

C. There is substantial doubt about the clients going concern and/or there is lack of consistent application of GAAP in the financial statements.

D. There is substantial doubt about the clients going concern, there is lack of consistent application of GAAP in the financial statements, and/or the financial statements do not follow GAAP and are materially misstated.

E. There is lack of consistent application of GAAP in the financial statements only.

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