Under Which of the Following Circumstances Would a Disclaimer of Opinion

question 1

Multiple Choice

Under which of the following circumstances would a disclaimer of opinion not be appropriate?

• A)The client refuses to allow the auditor to review the minutes of the board of director's meetings.
• B)The client refused to provide a signed management representation letter.
• C)The auditor is engaged after the year-end and is unable to observe ending physical inventories,which are highly material.
• D)The auditor has identified illegal payments to foreign officials made by the client's management.

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Definitions:

Domestic Producers

Manufacturers or providers of goods and services within a country's own borders, as opposed to foreign producers.

Equilibrium World Price

The price at which the quantity of a good demanded globally equals the quantity supplied across the world, without any trade barriers.

Domestic Quantity Supplied

the total amount of a good or service that producers in a domestic market are willing and able to supply at a given price level.

Domestic Quantity Demanded

The total amount of a product or service that consumers in a specific country are willing to buy at a given price.