The External Auditor Renders an 'Except For' Opinion When He/she

question 1

Multiple Choice

The external auditor renders an 'except for' opinion when he/she:

• A) is unable to express an opinion either way because of a limitation in the work he or she was able to do.
• B) considers that the financial statements are not presented fairly in accordance with GAAP.
• C) is generally satisfied except for a specified departure from GAAP in the statements.
• D) is unable to obtain sufficient reliable audit evidence.

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Definitions:

Due to Chance

Describes scenarios or results that occur without any deliberate intention or causal relationship, attributed purely to randomness.

Forms of Reliability

Different methods for assessing the consistency and dependability of a measure or test, including test-retest reliability, inter-rater reliability, and internal consistency.

Research

The organized examination and analysis of materials and sources aimed at establishing truths and arriving at fresh insights.

Important

Having significant value, meaning, or influence; something that holds great relevance or priority.