Solved

The Auditors Conclude That There Is a Material Inconsistency in the "Other

Question 24

Multiple Choice

The auditors conclude that there is a material inconsistency in the "other information" in an annual report to shareholders containing audited financial statements.If the auditors conclude that the financial statements do not require revision,but the entity refuses to revise or eliminate the material inconsistency,the auditors may


A) Issue a qualified opinion on the entity's financial statements,citing a departure from generally accepted accounting principles.
B) Consider the matter closed since the other information is not included in the audited financial statements.
C) Issue an adverse opinion on the entity's financial statements due to inadequate disclosure.
D) Revise the report on the entity's financial statements to include an other-matter paragraph describing the material inconsistency.

Correct Answer:

verifed

Verified

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

Related Questions