If Substantial Doubt Remains About Going Concern for a Client

question 54

Multiple Choice

If substantial doubt remains about going concern for a client at the end of the audit,then the auditor would do which of the following?

• A)issue an unqualified audit report.
• B)issue an unqualified audit report with an explanatory paragraph.
• C)issue a qualified report.
• D)issue an adverse report.

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Definitions:

High-Volume

Refers to operations or production processes that generate a large quantity of output within a given time frame.

High-Variety

Refers to the broad range of product types and options available to consumers, typically seen in manufacturing and service industries.

Job Shop Environment

A manufacturing system in which small batches of a variety of custom products are made or services are provided.

Newsprint

A type of low-cost, non-archival paper predominantly used to print newspapers, as well as other publications and advertising material.