Upon conclusion of the audit of Marrow Enterprises, the audit firm noted that they have been unable to audit a significant portion of the client's inventory, despite their best efforts. As a result of this, what might the auditors decide to do? O The auditors will likely issue an adverse opinion on the financial statements, on the presumption that the client is attempting to conceal fraud. O The aditors will most likely issue a disclaimer of opinion on the client's financial statements. O The auditors will likely proceed with issuance of a scope limitation, related to the inventory that they were unable to audit. O The auditors will likely consider issuing a qualified opinion related to the inventory accounts, in order to draw stakeholder attention to this area.

Upon conclusion of the audit of Marrow Enterprises, the audit firm noted that they have been unable to audit a significant portion of the client's inventory, despite their best efforts. As a result of this, what might the auditors decide to do? O The auditors will likely issue an adverse opinion on the financial statements, on the presumption that the client is attempting to conceal fraud. O The aditors will most likely issue a disclaimer of opinion on the client's financial statements. O The auditors will likely proceed with issuance of a scope limitation, related to the inventory that they were unable to audit. O The auditors will likely consider issuing a qualified opinion related to the inventory accounts, in order to draw stakeholder attention to this area.

Auditing: A Risk Based-Approach (MindTap Course List)

11th Edition

ISBN:9781337619455

Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Chapter15: Audit Reports For Financial Statement Audits

Section: Chapter Questions

Problem 23CYBK

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