Question
Drop Down Options Opinion on the Financial Statements Section: - Not modified - Modified - Modified (disclaimer only) - Not included Basis for Opinion Section:
Drop Down Options
Opinion on the Financial Statements Section:
- Not modified
- Modified
- Modified (disclaimer only)
- Not included
Basis for Opinion Section:
- Not modified
- Modified
- Modified (disclaimer only)
- Not included
Critical Audit Matters Section:
- Include
- Do not include (Disclaimer of Opinion)
Additional Paragraph or Section:
- Not included
- Additional paragraph in basis for opinion section
- Additional paragraph in opinion on the financial statements section
- Separate Additional paragraph or section
Hi Expert,
Please provide the answers for letters a, b, and c by choosing the correct drop down option.
Thank you for your help!
(a) The account balances affected by the scope limitation are not material to the entity's financial position, results of operations, or cash flows. (b) The account balances affected by the scope limitation are material to the entity's financial position, results of operations, and cash flows. However, the audit team is able to perform alternative procedures that provide evidence supporting the accounts affected by the scope limitation. (c) The account balances affected by the scope limitation are material to the entity's financial position, results of operations, and cash flows. Because of a lack of supporting documentation and key accounting records, the audit team is unable to perform alternative procedures that provide evidence supporting the accounts affected by the scope limitation. 1. For each of the situations below, briefly describe how the auditors' report on the entity's financial statements would be affected. Assume the entity is a non-issuer and do not rewrite or draft the report that would be issued in each of these circumstances.)Step by Step Solution
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