L20 Notes_Part_17 - P40: AUDIT REPORTS (10 points) Submit...

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P40: AUDIT REPORTS (10 points) Submit only the solutions to the grader by midnight April 3rd. Do not submit a hardcopy. a. For each of the following independent situations, identify which of the conditions (e.g. uncertainty, scope, non-GAAP, consistency, independence) requiring a deviation from or modification of an unqualified standard report is at issue. b. State the appropriate audit report from the following alternatives. Record your answers on the second page of the exam. 1. Unqualified - standard wording 2. Unqualified - modified wording 3. Unqualified - explanatory paragraph 4. Qualified opinion only - except for 5. Qualified scope and opinion 6. Disclaimer 7. Adverse
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. During your examination of Degold Batteries you conclude there is a possibility that inventory is materially overstated. The client refuses to allow you to expand the scope of your examination sufficiently to verify whether the balance is actually misstated. 2.
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This note was uploaded on 10/05/2011 for the course ACG 5637 taught by Professor Monikacaushoulli during the Fall '08 term at University of Florida.

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L20 Notes_Part_17 - P40: AUDIT REPORTS (10 points) Submit...

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