Business, 07.04.2020 04:56, pinkpearl20
After completing a financial statement audit, the auditor needs to assess the situation to determine the proper type of report to issue. Expressing an independent opinion on the fairness of financial statements is an attestation service most frequently provided by auditors. The opinion is expressed in the auditors' report. Audit reports can be unmodified or modified. A report with an unmodified opinion may be a "standard report" or can include an emphasis-of-matter paragraph. A modified report can have an extra explanatory paragraph in connection with a qualified opinion, adverse opinion, or disclaimer of opinion.
Match each situation with the appropriate type of opinion to be issued
1. Adverse Opinion
2. Unqualified Opinion with an emphasis-of-Mater Paragraph
3. Unmodified Opinion
4. Adverse Opinion
5. Disclaimer of Opinion
A. Auditors have obtained sufficiently appropriate evidence to conclude that the financial statements are not materially misstated
B. Auditors have doubt about a company's ability to continue as a going concern
C. The client has elected to not follow GAAP
D. A material misstatement is considered pervasive
E. Auditors determine that the possible effects on the financial statements of the inability to obtain sufficient evidence (i. e. a scope limitation) could be both material and pervasive
Answers: 3
Other questions on the subject: Business
Business, 22.06.2019 15:00, cheyfaye4173
Oerstman, inc. uses a standard costing system and develops its overhead rates from the current annual budget. the budget is based on an expected annual output of 120,000 units requiring 480,000 direct labor hours.(practical capacity is 500,000 hours)annual budgeted overhead costs total $772,800, of which $556,800 is fixed overhead. a total of 119,300 units, using 478,000 direct labor hours, were produced during the year. actual variable overhead costs for the year were $260,400 and actual fixed overhead costs were $555,450.required: 1. compute the fixed overhead spending variance and indicate if favorable or unfavorable.2. compute the fixed overhead volume variance and indicate if favorable or unfavorable.
Answers: 3
Business, 22.06.2019 21:30, robert7248
Consider the following three bond quotes; a treasury note quoted at 87.25, and a corporate bond quoted at 102.42, and a municipal bond quoted at 101.45. if the treasury and corporate bonds have a par value of $1,000 and the municipal bond has a par value of $5,000, what is the price of these three bonds in dollars? multiple choice $872.50, $1,000, $1,000, respectively $1,000, $1,024.20, $1,001.45, respectively $872.50, $1,024.20, $5,072.50, respectively $1,000, $1,000, $1,000, respectively
Answers: 3
Business, 22.06.2019 22:00, levicorey846
On january 8, the end of the first weekly pay period of the year, regis company's payroll register showed that its employees earned $22,760 of office salaries and $70,840 of sales salaries. withholdings from the employees' salaries include fica social security taxes at the rate of 6.20%, fica medicare taxes at the rate of 1.45%, $13,260 of federal income taxes, $1,450 of medical insurance deductions, and $860 of union dues. no employee earned more than $7,000 in this first pay period. required: 1.1 calculate below the amounts for each of these four taxes of regis company. regis’s merit rating reduces its state unemployment tax rate to 3% of the first $7,000 paid to each employee. the federal unemployment tax rate is 0.60
Answers: 3
Do you know the correct answer?
After completing a financial statement audit, the auditor needs to assess the situation to determine...
Questions in other subjects:
Arts, 12.02.2021 08:00
Mathematics, 12.02.2021 08:00
Mathematics, 12.02.2021 08:00
Mathematics, 12.02.2021 08:00
