Which of the Following Circumstances Generally Results in the Issuance

question 44

Multiple Choice

Which of the following circumstances generally results in the issuance of a report that includes an opinion that is other than unmodified?

• A) The auditor is unable to obtain sufficient appropriate audit evidence.
• B) The group auditors for the engagement are relying on the work of component auditors.
• C) The financial statements are affected by a change in accounting principle due to a new FASB pronouncement.
• D) The auditors have decided to emphasize the fact that the company has engaged in material amounts of related party transactions.

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Definitions:

Virtual Network

A digitally constructed network that allows for connections and resource sharing among multiple computers, devices, or virtual entities over the Internet.

Internal Operations

The processes and activities within an organization that contribute to its effective functioning, including production, human resources, and administrative tasks.

External Intelligence

Information gathered from outside an organization to support decision-making processes.

Big Data

Extremely large datasets that may be analysed computationally to reveal patterns, trends, and associations, especially relating to human behavior and interactions.