If Substantial Doubt Remains About Going Concern for a Client

question 29

Multiple Choice

If substantial doubt remains about going concern for a client at the end of the audit,then which of the following reports should the auditor typically issue?

• A)Issue an unqualified audit report.
• B)Issue an unqualified audit report with an explanatory paragraph.
• C)Issue a qualified report.
• D)Issue an adverse report.

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Definitions:

Trait

A relatively stable and long-lasting attribute of personality.

Psychological Triad

The combination of thoughts, feelings, and behaviors that constitute an individual's psychological functioning.

Rigorous Methods

Strict and precise techniques or procedures applied in research or study to ensure validity and reliability.

Phenomenological

Relating to or concerning the direct subjective experience of phenomena, without any attempt to interpret or infer causality.