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8. The term except for in an audit report is: a. Used in an adverse opinion. b. Not appropriate. c. Used in a qualified opinion
8. The term "except for in an audit report is: a. Used in an adverse opinion. b. Not appropriate. c. Used in a qualified opinion d. Used for an unqualified opinion when an explanatory paragraph is added 9.When financial statements of a public company are affected by a material departure from generally accepted accounting principles, the auditors should: a. Issue an unqualifiled report with an explanatory paragraph b. Withdraw from the engagement c. Issue a qualified or an adverse opinion. d. Issue a qualified or a disclaimer of opinion. 10. A measure of the auditor's assessment of the likelihood that there are material misstatements inan account, that is not related to the effectiveness of the client's internal control is called A) control risk. B) acceptable audit risk C) statistical risk. D) inherent risk 11. An auditor of a publicly traded company has the following two options for issuing the auditor's report a. Issue a report with an unqualified opinion or a report with an adverse opinion b.Issue a report on internal control or have management issue its assessment of internal contro Issue an integrated report with an opinion on the financial statements and on internal control or issue separate reports on each d. Mention either standards of the PCAOB in the audit report or mention generally accepted auditing standards
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