Tutorial_10 - Tutorial 10 A Multiple Choice Questions...

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Tutorial 10 A: Multiple Choice Questions Choose the best answer An auditor s unqualified report: Implies only that items disclosed in the financial statements and footnotes are properly presented and takes no position on the adequacy of disclosure Implies that disclosure is adequate in the financial statements and footnotes Explicitly states that disclosure is adequate in the financial statements and footnotes Explicitly states that all material items have been disclosed in conformity with accounting standards The date of the auditor s opinion on the financial statements should be the date of the: Closing of the client s book Receipt of the letter of representation Completion of all important audit procedures Submission of the report to the members An emphasis of matter section should be included in an unqualified audit report when: The financial statements include a departure from an accounting standard, the effect of which is material The auditor has been prevented from confirming large accounts receivable at year-end A material uncertainty affecting the client has not been disclosed adequately in the notes A material inconsistency between information in the directors
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