Clark_11e-TB-Comb-U11-FQs

Clark_11e-TB-Comb-U11-FQs - Appendix K for Unit Eleven...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Appendix K for Unit Eleven Questions on the Features CHAPTER 51—INSIGHT INTO ETHICS: AN AUDITOR’S DUTY TO CORRECT CERTIFIED OPINIONS A1. Uriah, an accountant, concludes an audit of Visual Signage Company by  issuing an opinion letter that states the financial statements accurately  reflect Visual’s financial position. Later, Uriah discovers that the opinion  was based on inaccurate data. According to the court’s decision in  Overton  with respect to the opinion Uriah has a. a duty to correct. b. a duty to correct only if Uriah was also responsible for the false data. c. no duty to correct, but a duty to file a suit against Visual. d. no duty to correct or file a suit. ANSWER: A PAGE: 1000 TYPE: N NAT: AACSB Reflective AICPA Legal B1. Loki, an accountant, concludes an audit of Medical Equipment Company  (MEC) by issuing an opinion letter that states the financial statements 
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 4

Clark_11e-TB-Comb-U11-FQs - Appendix K for Unit Eleven...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online