Question 17

1. AU-C 700 Forming an Opinion and Reporting on Financial Statements defines an unmodified opinion as the opinion expressed by the_______.

   		A. internal auditor when the auditor concludes the financial statements are presented fairly, in all material respects, in accordance with the applicable financial reporting framework
   		B. external auditor when the auditor concludes the financial statements are presented fairly, in all material respects, in accordance with the applicable financial reporting framework
   		C. external auditor when the auditor concludes the financial statements are presented fairly, in all material and immaterial respects, in accordance with the applicable financial reporting framework
   		D. external auditor when the auditor concludes the financial statements are presented fairly, in all material respects, in accordance with the international financial reporting standards

Question 18

1. The responsibility for the financial statements rests_______.

   		A. jointly with the auditor and management
   		B. solely with management
   		C. with the internal audit function
   		D. solely with the external auditor