Asked by Yussef Farag on May 14, 2024
Verified
Which of the following auditor opinions would be appropriate when the auditor is unable to determine if a company's statements were prepared in conformity with GAAP?
A) adverse opinion
B) qualified opinion
C) disclaimer of opinion
D) unqualified opinion
Auditor Opinions
Professional judgements issued by auditors at the conclusion of an audit, reflecting their assessment of the accuracy and fairness of a company's financial statements.
GAAP
Generally Accepted Accounting Principles, a set of rules and standards for financial reporting and accounting practices in the United States.
Disclaimer of Opinion
An auditor's statement indicating inability to express an opinion on the fairness of financial statements due to limited information or uncertainties.
- Understand the judgments rendered by auditors on the consistency of financial statements with GAAP.
Verified Answer
Learning Objectives
- Understand the judgments rendered by auditors on the consistency of financial statements with GAAP.
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