A limitation on the scope of the auditor’s examination sufficient to preclude

| September 12, 2018

A limitation on the scope of the auditor’s examination sufficient to preclude an unqualified opinion will always result when management a. Asks the auditor to report on the balance sheet and not on the other basic financial statements. b. Refuses to permit its lawyer to respond to the letter of audit inquiry. c. Discloses material related party transactions in the footnotes to the financial statements. d. Knows that confirmation of accounts receivable is not feasible.Under which of the following circumstances would a disclaimer of opinion not be appropriate? a. The auditor is engaged after fiscal year-end and is unable to observe physical inventories or apply alternative procedures to verify their balances. b. The auditor is unable to determine the amounts associated with illegal acts committed by the client’s management. c. The financial statements fail to contain adequate disclosure concerning related party transactions. d. The client refuses to permit its attorney to furnish information requested in a letter of audit inquiry.

Order your essay today and save 20% with the discount code: ESSAYHELP
Order your essay today and save 20% with the discount code: ESSAYHELPOrder Now