For the following independent situations, assume that you are the audit partner on the engagement: (Click the icon to view the independent situations.) Read the requirements. Requirements a. and b. Identify which of the conditions requiring a deviation from a standard unmodified opinion audit report is applicable, if any. Then state the level of materiality as immaterial, material, or highly material. If you cannot decide the level of materiality, state the additional information needed to make a decision. (Complete all input fields in the Condition and Materiality level columns. If an input field is not used in the Additional information needed column, leave the input field empty; do not select a label.) (a) Condition 1. 2. 3. 4. 5. 6. For each situation, do the following: a. Identify which of the conditions requiring a deviation from a standard unmodified opinion audit report is applicable, if any. b. State the level of materiality as immaterial, material, or highly material. If you cannot decide the level of materiality, state the additional information needed to make a decision. c. Given your answers in parts a. and b., state the appropriate audit report from the following alternatives (if you have not decided on one level of materiality in part b., state the appropriate report for each alternative materiality level): (1) Unmodified opinion-standard wording (5) Qualified opinionscope limitation (2) Unmodified opinion-explanatory paragraph (3) Unmodified opinionnonstandard report wording (6) Disclaimer (4) Qualified opinion onlyGAAP departure (7) Adverse For the following independent situations, assume that you are the audit partner on the engagement: (Click the icon to view the independent situations.) Read the requirements. Requirements a. and b. Identify which of the conditions requiring a deviation from a standard unmodified opinion audit report is applicable, if any. Then state the level of materiality as immaterial, material, or highly material. If you cannot decide the level of materiality, state the additional information needed to make a decision. (Complete all input fields in the Condition and Materiality level columns. If an input field is not used in the Additional information needed column, leave the input field empty; do not select a label.) (a) Condition 1. 2. 3. 4. 5. 6. For each situation, do the following: a. Identify which of the conditions requiring a deviation from a standard unmodified opinion audit report is applicable, if any. b. State the level of materiality as immaterial, material, or highly material. If you cannot decide the level of materiality, state the additional information needed to make a decision. c. Given your answers in parts a. and b., state the appropriate audit report from the following alternatives (if you have not decided on one level of materiality in part b., state the appropriate report for each alternative materiality level): (1) Unmodified opinion-standard wording (5) Qualified opinionscope limitation (2) Unmodified opinion-explanatory paragraph (3) Unmodified opinionnonstandard report wording (6) Disclaimer (4) Qualified opinion onlyGAAP departure (7) Adverse
