When the Auditor Issues a Qualified Opinion Due to the Inability

question 22

Multiple Choice

When the auditor issues a qualified opinion due to the inability to obtain sufficient appropriate evidence,the auditor should state in the opinion paragraph that,

• A)except for the possible effects of the matters described in the basis for modification paragraph,the financial statements are presented fairly,in all material respects,in accordance with the applicable reporting framework
• B)except for the probable effects of the matters described in the basis for modification paragraph,the financial statements are presented fairly,in all material respects,in accordance with the applicable reporting framework
• C)except for the likely effects of the matters described in the basis for modification paragraph,the financial statements are presented fairly,in all material respects,in accordance with the applicable reporting framework
• D)except for the unlikely effects of the matter described in the basis for modification paragraph,the financial statements are presented fairly,in all material respects,in accordance with the applicable reporting framework

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Definitions:

Uncertain Events

Situations or occurrences with an unpredictable outcome due to a lack of information or inherent variability.

Isolated Cases

Instances or occurrences that are distinct from and not representative of the general situation or condition.

Fast And Frugal Heuristics

Decision-making strategies that use minimal information to make quick and efficient decisions.

Gigerenzer

A psychologist known for his work on heuristics and decision making under uncertainty.