C d opening introductory paragraph no yes yes no

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Unformatted text preview: t includes a statement that the financial statements are the responsibility of the company's management. Management's refusal to accept responsibility for the fair presentation of the financial statements therefore precludes issuance of this standard report. Choices "a", "b", and "c" are incorrect, as there are generally alternative procedures the auditor can perform to accomplish his or her goals. 13. CPA-02834 When qualifying an opinion because of an insufficiency of audit evidence, an auditor should refer to the situation in the: a. b. c. d. Opening (introductory) paragraph No Yes Yes No Scope paragraph No No Yes Yes CPA-02834 Choice "d" is correct. When a qualified opinion results from a lack of audit evidence, the situation should be described in an explanatory paragraph preceding the opinion paragraph, and referred to in both the scope and opinion paragraphs. Choices "a", "b", and "c" are incorrect, per the above explanation. 7 © 2009 DeVry/Becker Educational Development Corp. All r...
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