Question: When an auditor provides an adverse opinion, what does this mean? You client committed frauds in audited financial reports, and went bankrupt. A lender, relying

When an auditor provides an adverse opinion, what does this mean?

You client committed frauds in audited financial reports, and went bankrupt. A lender, relying on the financial reports to provide a new loan to your client, sues you for their damages. Can the lender win? Explain your answer.

Your long-term client is not happy with the audit fee for the incoming audit and wants a 10% reduction, if not, they will not sign the offer. Should the auditor reduce the free as requested? Explain your answer.

Your audit firm offers a client a 10% discount on its audit fee if the client also gives all its tax consulting work to the firm. Is there any issue with the offer? Explain your answer. Yes?

You lost $1m investing in a company that filed for bankruptcy, and you want to sue the auditor for the loss. Use "Proximity" to explain whether you can win the case.

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