Question 1

The basis for a modification paragraph is ordinarily placed:

Accepted Answer

A)   Within the "Auditor's Responsibility" section of the audit report.
B)   Preceding the opinion section.
C)   After the opinion section.
D)   Based on the auditor's judgment either before or after the opinion section.E) A) and B)
F) A) and C)

Question 2

Doe, an independent auditor, was engaged to perform an audit of the financial statements of Ally Incorporated one month after its fiscal year had ended. Although the inventory count was not observed by Doe, and accounts receivable were not confirmed by direct communication with debtors, Doe was able to obtain sufficient appropriate audit evidence by applying alternative auditing procedures. Doe's audit report will probably contain:

Accepted Answer

A)   A standard unmodified opinion.
B)   An unmodified opinion and an emphasis-of-matter paragraph.
C)   Either a qualified opinion or a disclaimer of opinion.
D)   An "except for" qualification.E) B) and D)
F) A) and D)

Exam 17: Auditors Report

The basis for a modification paragraph is ordinarily placed:

Correct Answer
verified

Correct Answer
verified

Exam 17: Auditors Report

The basis for a modification paragraph is ordinarily placed:

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified