An Independent Auditor Must Consider Whether the Auditee Has the Ability

question 43

Multiple Choice

An independent auditor must consider whether the auditee has the ability to continue as a going concern.If a substantial doubt exists but disclosure is adequate and no other basis exists for modifying the report, under CICA section 5510, the auditor should

• A)Disclaim an opinion.
• B)Express an adverse opinion.
• C)Qualify the opinion.
• D)Express an unqualified opinion.

Grasp the concept of fund financial statements and their components as mandated by GASB.

Understand the rules for revenue recognition in governmental accounting.

Comprehend the classification and reporting of fund balances in governmental funds.

Recognize the different fiduciary funds and their usage in governmental accounting.

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Definitions:

Symbol

A representation or emblem used as a conventional representation of an object, principle, or process.

American Welding Society

An organization dedicated to advancing the science, technology, and application of welding and allied joining and cutting processes.

AWS

American Welding Society, an organization dedicated to advancing the science, technology, and application of welding and allied joining and cutting processes.

Extension Lines

Extension lines are lines drawn on a blueprint or sketch that extend from the outline of a part to call out dimensions or indicate a detail’s location.