A) the standard unmodified opinion audit report is referred to as an unqualified opinion audit report. B) the scope paragraph is the same as the scope paragraph for private companies. C) internal controls of a public company must be audited every five years. D) the scope paragraph states that the financial statements are the respons bility of management. 12) Ind icate which changes would require an explanatory paragraph in the audit report. 12) A) The CPA concludes there is substantial doubt about the entity's ability to continue as a going concern Yes Change from FIF0 to LIFO Yes B)The CPA concludes there is substantial doubt about the entity's ability to continue asa going concern Yes Change from FIFO to LIFO C) The CPA concludes there is substantial doubt about the entity's ability to continue as a going concern No Change from FIFO to LIFO Yes D)The CPA concludes there is substantial doubt about the entity's ability to continue asa going concern Change from FIFO to LIFO No 13) If the auditor lacks independence, a disclaimer of opinion must be issued A) only if it is material but not pervasive. C) in all cases B) if the client requests it. D) only if it is highly material. 14) Which of the following is false concerning the principal CPA firm's alternatives when issuing a 14) report when another CPA firm performs part of the audit? A) Issue a joint report signed by both CPA firms. B) A qualified opinion or disclaimer, depending on materiality, is required if the principal auditor is not willing to assume any responsibility for the work of the other auditor unqualified opinion. opinion or report). C) Make no reference to the other CPA firm in the audit report, and issue the standard D) Make reference to the other auditor in the report by using modified wording (a shared