The Auditor Issues a Disclaimer of Opinion When

question 74

Multiple Choice

The auditor issues a disclaimer of opinion when

• A)the auditor has sufficient appropriate audit evidence and concludes that the misstatements to the financial statements are material,but not pervasive
• B)the auditor is unable to obtain sufficient appropriate evidence,but the auditor concludes that the possible effects of the misstatement could be both material and pervasive
• C)the auditor is unable to obtain sufficient appropriate evidence,but the auditor concludes that the possible effects of the misstatement could be material,but not pervasive
• D)the auditor has reasonable evidence to determine that the financial statements are not free from material misstatement
• E)the auditor has sufficient evidence to determine that the financial statements are not free from material misstatement

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Definitions:

Rate of Decrease

A measure of how rapidly a quantity decreases over time, typically expressed as a percentage.

Base Value

A reference or starting point used for comparison or calculation, often in financial indices or to measure changes in economic indicators.

Weekend Hours

The hours of operation or work scheduled on weekends, which may vary from standard weekday hours.

Percent Reduced

Indicates the percentage by which a quantity has been lowered from its original value, often used in sales and finance.