26.Auditors most likely would issue a disclaimer of opinion on the entity’s financial statements because of A.Inadequate disclosure of material information.B.The omission of the statement of cash flows.C.A material departure from generally accepted accounting principles.D.Management’s refusal to furnish written representations.27.When disclaiming an opinion due to a client-imposed scope limitation, auditors should indicate in a separate paragraph why the audit did not comply with the standards of the PCAOB. The auditors should also omit the 28.Under which of the following circumstances would a disclaimer of opinion on the entity’s financial statements not be appropriate? 29.When audited financial statements are presented in a document containing other information, the auditors should 30.Which of the following auditing procedures most likely would assist auditors in identifying conditions and events that may indicate substantial doubt about an entity’s ability to continue as a going concern? A.Inspecting title documents to verify whether any assets are pledged as collateral.B.Confirming with third parties the details of arrangements to maintain financial support.C.Reconciling the cash balance per books with the cut-off bank statement and the bank confirmation.71
D.Comparing the entity’s depreciation and asset capitalization policies to other entities in the industry.
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