If, During the Completion Phase of the Audit, the Auditor

question 16

True/False

If, during the completion phase of the audit, the auditor determines that he or she has not obtained sufficient evidence to draw a conclusion about the fairness of the client's financial statements, there are two choices: accumulate additional evidence or issue either a qualified or an adverse opinion.

---

Definitions:

Frustration Clause

A frustration clause in a contract is a provision that releases both parties from their obligations if an unforeseeable event occurs, making it impossible to fulfill the contract.

Tomato Crop

Refers to the cultivation and production of tomatoes as an agricultural activity.

Epidemic

A widespread occurrence of an infectious disease in a community at a particular time, affecting a large number of people.

Condition Subsequent

A clause in a contract that specifies an event or action that terminates the contract or a duty under the contract.