- Hello, please help me with my homework. It is fairly easy, I just don't...
60.1K
Verified Solution
Link Copied!
Question
Accounting
- 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
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
