In which of the following circumstances may the auditor issue the standard unqualified, unmodified audit report?
A) The auditor has not been able to audit a substantial portion of the balance sheet
because of circumstances beyond anyone's control.
B) The client disclosed a change in accounting principles with an immaterial effect on
financial position and results of operations.
C) The financial statements do not disclose a justified departure from generally
accepted accounting principles.
D) The financial statements do not disclose significant going concern issues.
B) The client disclosed a change in accounting principles with an immaterial effect on
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Which of the following errors will cause the trial balance to be out of balance?
A) Posting a debit to Land as a debit to Machinery. B) Placing a debit balance amount into the credit balance column of the ledger. C) Omitting an entire transaction. D) Incorrectly recording the purchase of land for cash as a debit to Cash and a credit to Land.
Costs related to a new pension plan that are necessary to "catch up" for services rendered prior to the inception of the pension plan are classified as
a. service costs. b. actuarial losses. c. prior service costs. d. retroactive deferred charges.
What are two of the five key points to note for effective goal setting?
What will be an ideal response?
Which of the following is a common description of information?
A. list of recorded facts or figures B. collection of unprocessed data C. an array of related variables D. unbiased, unrelated data E. knowledge derived from data