Multiple Choice
The auditors include an emphasis-of-matter paragraph in an audit report with an unmodified opinion in order to emphasize that the entity being reported upon is a subsidiary of another business enterprise. The inclusion of this paragraph:
A) Is appropriate and would not negate the unmodified opinion.
B) Is considered a qualification of the opinion.
C) Is a violation of generally accepted reporting standards if this information is disclosed in notes to the financial statements.
D) Necessitates a revision of the opinion paragraph to include the phrase "with the foregoing explanation."
Correct Answer:
Verified
Correct Answer:
Verified
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