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.
When qualifying an opinion because of an insufficiency of audit evidence, an auditor should refer to the
situation in the: a.
d. Opening (introductory)
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
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This note was uploaded on 06/14/2013 for the course ACCOUNTING audit cpa taught by Professor Becker during the Fall '12 term at Keller Graduate School of Management.
- Fall '12