Question
From the list of situations provided below, identify which audit opinion would be most appropriate given the each independent situation. Situation Audit Opinion Early adoption
From the list of situations provided below, identify which audit opinion would be most appropriate given the each independent situation.
| Situation | Audit Opinion | |
|---|---|---|
| Early adoption of a new accounting standard with a significant impact on the financial statements. | Select audit opinion. Unqualified OpinionUnqualified Opinion - Emphasis of MatterQualified OpinionAdverse OpinionDisclaimer of Opinion | |
| Financial statements are materially misstated (pervasive). | Select audit opinion. Unqualified OpinionUnqualified Opinion - Emphasis of MatterQualified OpinionAdverse OpinionDisclaimer of Opinion | |
| Material misstatement (not pervasive). | Select audit opinion. Unqualified OpinionUnqualified Opinion - Emphasis of MatterQualified OpinionAdverse OpinionDisclaimer of Opinion | |
| Inability to obtain sufficient appropriate audit evidence (not pervasive). | Select audit opinion. Unqualified OpinionUnqualified Opinion - Emphasis of MatterQualified OpinionAdverse OpinionDisclaimer of Opinion |
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Auditing The Art And Science Of Assurance Engagements
Authors: Alvin A. Arens, Randal J. Elder, Mark S. Beasley, Chris E. Hogan, Joanne C. Jones
15th Canadian Edition
0136692087, 9780136692089
