Question
- Hello, please help me with my homework. It is fairly easy, I just don't want to mess anything up. It is one problem with
- Hello, please help me with my homework. It is fairly easy, I just don't want to mess anything up. It is one problem with a few short true and false. All you have to do is state whether the statement is true or false. Thank you in advance! :)
a. A disclaimer of opinion should be given if there is a significant scope limitation or a major departure from GAAP. T or F
b. A client- imposed scope limitation that significantly limits audit scope should result in a qualified opinion. T or F
c. The audit report should be modified to include an explanatory paragraph if the client has changed a material accounting principal. T or F
d. What used to be referred to as an "unqualified opinion" is now called a "modified opinion" for public companies. T or F
e. An auditor should never express a different opinion on the income statement than on the balance sheet.T or F
f. An auditor does not have a responsibility to consider internal controls in the review of a nonpublic company. T or F
g. Independence is required for all forms of assurance services. T or F
h. A financial forecast is the same thing as a financial projection. T or F
i. Sarbanes- Oxley allows CPA firms to provide both internal and external auditing services to the same public company. T or F
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