If the Auditor Lacks Independence, a Disclaimer of Opinion Must

question 154

Multiple Choice

If the auditor lacks independence, a disclaimer of opinion must be issued

• A) if the client requests it.
• B) only if it is highly material.
• C) only if it is material but not pervasive.
• D) in all cases.

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Definitions:

Sunbelt

A region in the United States defined by its warm climate, extending across the Southeast and Southwest, notable for its significant economic growth and population increase in the late 20th century.

Right-to-Work Laws

Legislation that prohibits union security agreements, allowing employees in unionized workplaces to opt out of joining the union and paying union dues.

Closed Shops

Workplaces where all employees must be members of a specific labor union as a condition of employment, effectively limiting hiring to union members only.

Social Trend

A general direction in which society is changing, often identified by shifts in behavior, attitudes, or cultural norms.