When a Client Declines to Disclose Essential Information in the Financial

question 13

Multiple Choice

When a client declines to disclose essential information in the financial statements or notes,the auditor of the financial statements should:

• A)Provide the information in the audit report,if practicable,and qualify the opinion because of a limitation on the scope of the audit.
• B)Provide the information in the audit report,if practicable,and qualify the opinion because of a departure from GAAP.
• C)Issue a disclaimer of opinion because the client has interfered with the auditor's function of assessing the adequacy of disclosure.
• D)Issue an unmodified opinion,but inform the reader by including the omitted information in the audit report.

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Definitions:

Innovation

Converting a thought or discovery into a valuable offering or solution that attracts customer investment.

Patents

Legal documents granted by governments that give inventors exclusive rights to their inventions for a certain period, protecting their intellectual property and preventing unauthorized use.

IBM

A multinational technology and consulting company known for its computer hardware, software, and services.

Samsung

A multinational conglomerate corporation headquartered in South Korea, known for its electronics, among other products and services.