The Auditors Include an Emphasis-Of-Matter Paragraph in an Otherwise Unmodified

The auditors include an emphasis-of-matter paragraph in an otherwise unmodified report on the entity's financial statements to emphasize that the entity being reported on had significant transactions with related parties. The inclusifis considered a qualification of the opinion.on of this separate paragraph

A) is considered a qualification of the opinion.
B) violates generally accepted auditing standards if this information is already disclosed in footnotes to the financial statements.
C) necessitates a revision of the Opinion Section to include the phrase "with the foregoing explanation."
D) is appropriate and would not otherwise affect the unmodified opinion.

Correct Answer:

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Access For Free