What type of audit opinion is expressed by an auditor performing a limited scope audit? Select one: a. Disclaimer b. Unqualified c. Qualified d.
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What type of audit opinion is expressed by an auditor performing a limited scope audit?
Disclaimer
Unqualified
Qualified
Adverse
Step by step
Solved in 3 steps
- What category of audit report will be issued if the auditor concludes that the financial statementsare not fairly presented? A. qualified B. adverse C. standard unmodified opinion D. disclaimerWhat type of audit opinion is preferred when analyzing fi nancial statements? C . Unqualifi ed.What type of audit opinion is preferred when analyzing fi nancial statements? B . Adverse.
- The auditor shall express an adverse opinion when a matter is _____. a. Material b. Immaterial c. Both material and pervasive d. PervasiveExplain the departures an auditor can award a client from an unqualified audit report.When going concern assumption is appropriate, Auditor's opinion should be: a. disclaimer opinion b. Modified opinion c. Unmodified opinion d. Adverse opinion
- When an auditor is faced with a material departure from GAAP that is pervasive, which of the following should the audit report contain? a. b. C. d. A disclaimer of opinion. A qualified opinion with an explanatory paragraph. An adverse opinion. An unqualified opinion.The phrase “except for the possible effects of the matter described…” appears in an audit report. This could be what type of opinion? a. Qualified Adverse Disclaimer Yes Yes No b. Qualified Adverse Disclaimer Yes No No c. Qualified Adverse Disclaimer No No Yes d. Qualified Adverse Disclaimer No Yes No e. Qualified Adverse Disclaimer Yes Yes Yes2. In the element of audit findings, this refers to what the auditor discovered as a result of applying auditing procedures. Group of answer choices Condition Findings Cause Effect
- In audit reporting, what does an unqualified opinion mean?Inherent risk and control risk differ from detection risk in which of the following ways? A. Inherent risk and control risk are calculated by the client B. inherent risk and control risk exist independently of the audit. C. Inherent risk and control risk are controled by the auditor. D. Inherent risk and control risk exist as a result of the auditor's judgement about materiality.Auditor observations are not considered as audit evidence A. True B. False