A Client Decides to Change Accounting Procedures for Certain Types

question 12

Multiple Choice

A client decides to change accounting procedures for certain types of transactions which will have a material impact on the financial statements. The client adopts an accounting change promulgated by GAAP but this change has no effect on the current period financial statements. The auditor should issue what type of opinion?

• A) Qualified opinion.
• B) Unqualified opinion.
• C) Disclaimer of opinion.
• D) Depending on the circumstances, the auditor may choose any of the above.

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Definitions:

Substance Dependence

A condition characterized by the compulsive use of a substance despite harmful consequences, often associated with tolerance and withdrawal symptoms.

Depressant Effects

describe the slowing down of brain function and reduction of neural activity, typically induced by certain medications, drugs, or substances.

Date-Rape Drug

Substances used to incapacitate someone in order to commit sexual assault.

Rohypnol

A potent sedative drug that is part of the benzodiazepine class, often associated with instances of drug-facilitated sexual assault.