Typically, When a Going Concern Issue Exists the Auditor Should

question 67

Multiple Choice

Typically, when a going concern issue exists the auditor should:

• A) Issue an unmodified opinion with an emphasis-of-matter paragraph
• B) Explain the reasons for the going concern issue
• C) Indicate where management's plans to deal with the going concern are addressed
• D) All of these

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Definitions:

Status Cues

Social signals or indicators that convey information about an individual's social position, wealth, or status within a community or society.

Social Position

An individual's rank or status within the hierarchy of a social system, which can influence their access to resources and opportunities.

Role Strain

The stress or tension experienced by an individual when the demands of a single role (such as parent or employee) they are fulfilling become conflicting or overwhelming.

Role Conflict

A situation where competing demands are made on an individual in the context of their various social roles, causing stress or tension.