When There Is a Justified Departure from GAAP Which Is

question 56

Multiple Choice

When there is a justified departure from GAAP which is considered material, the auditor should issue a(n)

• A) standard unmodified opinion.
• B) disclaimer of opinion.
• C) unmodified opinion with an explanatory paragraph.
• D) adverse opinion.

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Definitions:

Data Entry

The process of inputting information into electronic formats by typing or scanning, typically used in databases and computer systems.

FAIS

An acronym standing for Financial Advice and Intermediary Services, regulations aimed at protecting consumers by governing the provision of financial advice and intermediary services.

Information Silos

Isolated islands of data or information managed separately within an organization, leading to inefficiency and lack of synergy.

ERP

Enterprise Resource Planning, a type of software that organizations use to manage day-to-day business activities.