If the Auditor Concludes That It Is Highly Improbable That

question 21

Multiple Choice

If the auditor concludes that it is highly improbable that the client will continue as a going concern, the auditor should, in accordance with ASA 700:

• A) issue a disclaimer of opinion.
• B) issue an unqualified report but explain the concerns in the opinion paragraph.
• C) include an emphasis of matter section in the audit report.
• D) express an adverse opinion.

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Definitions:

Major Sections

The primary divisions of a document, presentation, or work of writing, organized to enhance clarity and structure.

Arabic Numbers

Arabic numbers are the ten digits (0, 1, 2, 3, 4, 5, 6, 7, 8, 9) used around the world today for denoting quantities.

Geographic Location

The specific physical place where something exists, characterized by coordinates like latitude and longitude, or a descriptive address or landmark.

Place Division

An organizational method that categorizes information based on geographical location or placement.