When the Auditor Issues a Disclaimer of Opinion Due to a Material

question 6

Multiple Choice

When the auditor issues a disclaimer of opinion due to a material misstatement,the auditor should state in the opinion paragraph,that

• A)in the auditor's opinion,because of the significance of the matter described in the basis for disclaimer of opinion paragraph,the financial statements are not presented fairly in accordance with the applicable reporting framework
• B)because of the significance of the matter described in the basis for disclaimer of opinion paragraph,the auditor has not been able to obtain sufficient appropriate evidence to provide a basis for an audit opinion,and accordingly,the auditor does not express an opinion on the financial statements
• C)except for the 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
• D)except for the effects of the matter described in the basis for modification paragraph,the financial statements are not presented fairly,in all material respects,in accordance with the applicable reporting framework

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Definitions:

Surface Chart

A graphical representation of three-dimensional data where the color and patterns of the surface vary according to the values being plotted.

House Size

A measurement generally referring to the total living area or square footage of a residential building.

Home Market Value

The estimated price at which a home would sell under current market conditions.

Scatter Diagram

A graph used in statistics to display values for typically two variables for a set of data, showing the relationship between them.