Connect Access Card for Principles of Auditing & Other Assurance Services
21st Edition
ISBN: 9781260299366
Author: Ray Whittington, Kurt Pany
Publisher: McGraw-Hill Education
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Question
Chapter 17, Problem 25AOQ
To determine
Identify the consideration of the auditor in case of a material departure from the generally accepted accounting principles.
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Students have asked these similar questions
When financial statements are affected by a material departure from generally accepted accounting principles, the auditors should:
Withdraw from the engagement.
Issue an unmodified opinion with a basis for modification paragraph.
Issue an "except for" qualification or a disclaimer of opinion.
Issue an "except for" qualification or an adverse opinion.
In the auditor's judgement, management's use of going concerm basis of accounting is appropriate, material uncertainty has not been adequately disclosed in a note to the financial statements. What form of audtor's report should be issued?
Oa Aqualified opinion on the basis of material misstatement
Ob.Aqualified opinion on the basis of insufficient audit evidence
Oc An unqualifed opinion with a "Material uncertainty relating to going concem section O Adverse opinion
If in the auditor’s judgment, management’s use of the going concern basis of accounting in the preparation of the financial statements is inappropriate:
A.
The auditor will give a disclaimed of opinion.
B.
The auditor shall express an adverse opinion.
C.
The auditor shall express an unmodified opinion with a separate section.
D.
The auditor shall express a qualified opinion.
Chapter 17 Solutions
Connect Access Card for Principles of Auditing & Other Assurance Services
Ch. 17 - Prob. 1RQCh. 17 - What is the function of notes to financial...Ch. 17 - Prob. 3RQCh. 17 - Prob. 4RQCh. 17 - Prob. 5RQCh. 17 - Prob. 6RQCh. 17 - Prob. 7RQCh. 17 - Prob. 8RQCh. 17 - Prob. 9RQCh. 17 - Prob. 10RQ
Ch. 17 - Prob. 11RQCh. 17 - Prob. 12RQCh. 17 - Prob. 13RQCh. 17 - Prob. 14RQCh. 17 - Prob. 15RQCh. 17 - Prob. 16RQCh. 17 - Prob. 17RQCh. 17 - Prob. 18RQCh. 17 - Prob. 19RQCh. 17 - Prob. 20RQCh. 17 - Prob. 21QRACh. 17 - Prob. 22QRACh. 17 - Prob. 23QRACh. 17 - Prob. 24QRACh. 17 - Prob. 25AOQCh. 17 - Prob. 25BOQCh. 17 - Prob. 25COQCh. 17 - Prob. 25DOQCh. 17 - Prob. 25EOQCh. 17 - Prob. 25FOQCh. 17 - Prob. 25GOQCh. 17 - Prob. 25HOQCh. 17 - Prob. 25IOQCh. 17 - Prob. 25JOQCh. 17 - Prob. 25KOQCh. 17 - Prob. 25LOQCh. 17 - Prob. 26OQCh. 17 - Prob. 27OQCh. 17 - Prob. 28OQCh. 17 - Prob. 29OQCh. 17 - Prob. 30OQCh. 17 - Prob. 31OQCh. 17 - Prob. 32OQCh. 17 - Prob. 33PCh. 17 - Prob. 34PCh. 17 - Sturdy Corporation (a nonpublic company) owns and...Ch. 17 - Prob. 36PCh. 17 - Prob. 37PCh. 17 - Prob. 38ITCCh. 17 - Prob. 39ITCCh. 17 - Prob. 40RDC
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Similar questions
- if an auditor's report does not make a statement regarding the adequacy of informative disclosure in the financial statements with which he is associated, the reader can conclude that the A. Financial statements are presented fairly, in all material respects in comformity with generally accepted accounting principles provided all other requirements have been metB. Auditor has not followd generally accepted auditing standardsC. Auditor is expressing a qualified opinionD. Auditor is expressing an adverse opinionarrow_forwardIn the auditor's judgement, management's use of going concerm basis of accounting is appropriate, material uncertainty has not been adequately disclosed in a note to the financial statements. What form of audtor's report should be issued? Oa Aqualified opinion on the basis of material misstatement Ob.Aqualified opinion on the basis of insufficient audit evidence Oc An unqualifed opinion with a "Material uncertainty relating to going concem sectionarrow_forwardExamples of unmodified opinions which contain modified wording (without adding anemphasis-of-matter paragraph) include A. lack of consistent application of GAAP. B. substantial doubt about the audited company (or the entity) continuing as a going concern C. the lack of consistent application of generally accepted accounting principles. D. reports involving other auditorsarrow_forward
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