Auditors Should Issue a Disclaimer of Opinion When There Is

question 128

True/False

Auditors should issue a disclaimer of opinion when there is a highly material client-imposed scope restriction.

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Definitions:

Unilateral Contract

An agreement in which only one party makes a promise to perform in exchange for an act by the other party.

Acceptance

The act of receiving or agreeing to something, such as a proposal or offer, thus constituting a contract.

Performance

The execution, accomplishment, or fulfillment of a promise, contract, or other obligation.

Revocation

The act of withdrawing, canceling, or repealing a statement, offer, or privilege, which can pertain to legal contracts, licenses, or wills.