in which if the following circumstances would a qualified opinion be apporpriate
ID: 2525093 • Letter: I
Question
in which if the following circumstances would a qualified opinion be apporpriate?A. The statements are not in conformity with generally accepted accounting principles regarding stock options plans and but does not have pervasive effect on the financial statements.
B. The statements are not in conformity with generally accepted accounting principles regarding stock options plans and has pervasive effect on the financial statements.
C. The auditor has been unable to obtain sufficient competent evidential matter
D. The principal auditors decide to withdraw from the engagement due to distrust of management in which if the following circumstances would a qualified opinion be apporpriate?
A. The statements are not in conformity with generally accepted accounting principles regarding stock options plans and but does not have pervasive effect on the financial statements.
B. The statements are not in conformity with generally accepted accounting principles regarding stock options plans and has pervasive effect on the financial statements.
C. The auditor has been unable to obtain sufficient competent evidential matter
D. The principal auditors decide to withdraw from the engagement due to distrust of management
Explanation / Answer
Answer:
A. The statements are not in conformity with generally accepted accounting principles regarding stock options plans and but does not have pervasive effect on the financial statements.
Explanation:
A qualified opinion is given when the financial statements of a client are generally, fairly presented, but for a specific issue,on which there is departure from the GAAP requirements or there is inadequate disclosure or the auditor is unable to obtain sufficient evidence for verification etc.
Related Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.