Principles Of Auditing & Other Assurance Services
21st Edition
ISBN: 9781259916984
Author: WHITTINGTON, Ray, Pany, Kurt
Publisher: Mcgraw-hill Education,
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Question
Chapter 17, Problem 8RQ
To determine
Explain the situations in which the wordings of the unmodified opinion might depart from the standard report.
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Students have asked these similar questions
There are three conditions necessitating a departure from an unmodified audit report. Name, discuss and state the appropriate audit report for each of these three conditions.
When an auditor is faced with a
material departure from GAAP
that is pervasive, which of the
following should the audit report
contain?
a.
b.
C.
d.
A disclaimer of
opinion.
A qualified opinion
with an explanatory
paragraph.
An adverse opinion.
An unqualified
opinion.
Explain the conditions that require a departure from an unqualified audit report.
Chapter 17 Solutions
Principles Of Auditing & Other Assurance Services
Ch. 17 - Prob. 1RQCh. 17 - What is the function of notes to financial...Ch. 17 - Prob. 3RQCh. 17 - Prob. 4RQCh. 17 - Prob. 5RQCh. 17 - Prob. 6RQCh. 17 - Prob. 7RQCh. 17 - Prob. 8RQCh. 17 - Prob. 9RQCh. 17 - Prob. 10RQ
Ch. 17 - Prob. 11RQCh. 17 - Prob. 12RQCh. 17 - Prob. 13RQCh. 17 - Prob. 14RQCh. 17 - Prob. 15RQCh. 17 - Prob. 16RQCh. 17 - Prob. 17RQCh. 17 - Prob. 18RQCh. 17 - Prob. 19RQCh. 17 - Prob. 20RQCh. 17 - Prob. 21QRACh. 17 - Prob. 22QRACh. 17 - Prob. 23QRACh. 17 - Prob. 24QRACh. 17 - Prob. 25AOQCh. 17 - Prob. 25BOQCh. 17 - Prob. 25COQCh. 17 - Prob. 25DOQCh. 17 - Prob. 25EOQCh. 17 - Prob. 25FOQCh. 17 - Prob. 25GOQCh. 17 - Prob. 25HOQCh. 17 - Prob. 25IOQCh. 17 - Prob. 25JOQCh. 17 - Prob. 25KOQCh. 17 - Prob. 25LOQCh. 17 - Prob. 26OQCh. 17 - Prob. 27OQCh. 17 - Prob. 28OQCh. 17 - Prob. 29OQCh. 17 - Prob. 30OQCh. 17 - Prob. 31OQCh. 17 - Prob. 32OQCh. 17 - Prob. 33PCh. 17 - Prob. 34PCh. 17 - Sturdy Corporation (a nonpublic company) owns and...Ch. 17 - Prob. 36PCh. 17 - Prob. 37PCh. 17 - Prob. 38ITCCh. 17 - Prob. 39ITCCh. 17 - Prob. 40RDC
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Similar questions
- What type of situation would require an auditor to give an unmodified opinion without a standard report. Why would their opinion have to be modified?arrow_forwardGive one example each of when an auditor might render an unmodified opinion and include an emphasis-of-matter paragraph and an other-matter paragraph. What is the value of such paragraphs in the audit report?arrow_forwardWhat basic conditions must be met before auditors can issue an unqualified report.arrow_forward
- How is the auditors’ standard (unmodified) report modified for qualified or adverse opinionsissued as a result of departures from GAAP?arrow_forwardWhy should receiving reports be prenumbered? What assertion would an auditor test using thereceiving reports, and how would the auditor do this?arrow_forwardAn opinion based in part on the report of another auditor requires a modified wording in the standard unqualified audit report. True O Falsearrow_forward
- What happens when the auditor cannot issue the standard unqualified/unmodified audit report?arrow_forwardWhy should receiving reports be prenumbered in the first place? With the help of the receiving reports, what assertions would an auditor test, and how would the auditor go about doing so?arrow_forwardWhich item regarding an Emphasis of Matter paragraph is true? a. The auditor will use the E of M to restrict distribution of the audit report. b. The auditor will use the E of M when the client has corrected an error in the previous financial statements. c. An E of M will be used when a material error exists in the current financial statements. d. The E of M paragraph is usually located immediately before the opinion paragraph. e. The E of M paragraph would be used to discuss a client's change in the method to estimate bad debts.arrow_forward
- What category of audit report will be issued if the auditor concludes that the financial statementsare not fairly presented? A. qualified B. adverse C. standard unmodified opinion D. disclaimerarrow_forwardA.“It is the auditors’responsibility to gather sufficient appropriate evidence to reachtheir opinion. Discuss the above statement by explaining the differences between the evidence’s sufficiency and appropriateness. Your answer should include a discussion of two types of audit evidence.arrow_forwardWhat type of audit opinion is expressed by an auditor performing a limited scope audit? Select one: a. Disclaimer b. Unqualified c. Qualified d. Adversearrow_forward
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