Audit Reports - results not fairly presented Financial...

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Standard Unqualified AUDIT REPORTS Unqualified with explanatory paragraph or modified wording Qualified Adverse or Disclaimer Lack of consistency in applying GAAP Substantial doubt over going concern Auditor agrees with a GAAP departure Emphasis of a matter Reports involving other Auditors No reference in audit report Make reference in audit report Qualifies opinion GAAP not followed Scope restriction Financial position or
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Unformatted text preview: results not fairly presented Financial statements materially misstated Not independent Unable to form an opinion 90% 9% <1% A qualified report results from either a 1) limitation on the scope of the audit or 2) when GAAP is not followed...
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This note was uploaded on 05/01/2010 for the course MGMT 506 taught by Professor Sorensen during the Spring '10 term at Purdue University-West Lafayette.

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