Question
A multinational corporation has changed its method of valuing inventory from FIFO to LIFO and the change has a material effect on the financial statements.
A multinational corporation has changed its method of valuing inventory from FIFO to LIFO and the change has a material effect on the financial statements. The auditor does not agree with the appropriateness of the change. Identify the appropriate audit report type. *
Unqualified
Unqualified with modified wording
Unqualified with explanatory paragraph
Qualified - Scope limitation
Qualified - Departure from GAAP
Disclaimer - Scope limitation
Disclaimer - Lack of independence
Adverse
A multinational corporation has changed its method of valuing inventory from FIFO to LIFO and the change has a material effect on the financial statements. The auditor does not agree with the appropriateness of the change. Identify the appropriate audit report type. *
Unqualified
Unqualified with modified wording
Unqualified with explanatory paragraph
Qualified - Scope limitation
Qualified - Departure from GAAP
Disclaimer - Scope limitation
Disclaimer - Lack of independence
Adverse
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The Complete Guide To Operational Auditing 1995 Supplement
Authors: Harry R. Reider
1st Edition
0471102547, 978-0471102540
