An Auditor Most Likely Would Issue a Disclaimer of Opinion

question 26

Multiple Choice

An auditor most likely would issue a disclaimer of opinion because of ________.

• A) inadequate disclosure of material information
• B) the omission of the statement of cash flows
• C) a material departure from generally accepted accounting principles
• D) management's refusal to furnish written representations

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Definitions:

Critical Thinking

The process of objectively analyzing and evaluating an issue in order to form a judgment.

Groupthink

A psychological phenomenon where the desire for harmony and conformity in a group leads to irrational or dysfunctional decision-making outcomes.

Win-Lose Situations

Scenarios where one party's gain results directly from another's loss.

Lose-Lose Situations

Scenarios in which all parties involved suffer a negative outcome or fail to achieve their objectives, often resulting from poor negotiation or conflict resolution.