PART 2. Problem (40 points). Problem 1 (20 points). Each of the attached situati

Question

PART 2. Problem (40 points). Problem 1 (20 points). Each of the attached situations is a potential audit situation that the independent CPA could encounter in practice REQUIRED: For each of the attached independent situations (a) through (), complete the attached chart. Use the notation below for the type of opinion to be issued and then indicating YES or NO for the other entries. POSSIBLE AUDIT REPORTS THAT COULD BE ISSUED BY THE INDEPENDENT CPA ON AUDITED FINANCIAL STATEMENTS Unqualified, Standard Unmodified Report Unqualified, Explanatory Paragraph Unqualified, Modified Wording Only Qualified, Departure From GAAP Qualified, Scope Limitation Adverse Disclaimer USR UEP UMW QDG QSL

Explanation / Answer

a. Qualified, limited scope

b. Unqualified explanatory paragraph

c. USR

d. Disclaimer

e. UMW

f. Adverse

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