If a Lawyer Refuses to Provide the Auditor with Information

question 40

Multiple Choice

If a lawyer refuses to provide the auditor with information that is within the lawyer's jurisdiction and may directly affect the fair presentation of financial statements about material existing lawsuits (asserted claims) or unasserted claims,the audit report would have to be

• A)an adverse opinion.
• B)a qualified opinion.
• C)an unqualified opinion with an explanatory paragraph.
• D)modified to reflect the lack of available evidence (i.e. ,scope limitation).

---

Definitions:

Fully Executed

A contract or agreement that has been completely signed by all parties involved and all the terms are fully met.

Rescinded by Agreement

The mutual decision of parties involved in a contract to cancel or nullify the agreement.

Anticipatory Repudiation

An assertion or action by a party indicating that he or she will not perform an obligation that he or she is contractually obligated to perform at a future time.

Material Breach

A significant violation of a contract that substantially undermines the agreement, giving the aggrieved party the right to seek legal remedies.