CPA Exam Flashcards

Question	Answer
What is the objective of the reporting standard relating to consistency?	To give assurance that all comparability of F/S between periods has not been materially affected by changes in accounting principles without disclosure.
If the auditor believes that required disclosures of a significant nature are omitted from the financial statements under examination, the auditor should decide between issuing	Qualified opinion or an adverse opinion.
When the report of a principal auditor makes reference to the audit by another auditor, the other auditor may be named if express permission to do so is given and if	The report of the other auditor is presented together with the report of the principal auditor.
An auditor's opinion reads as follows: "In our opinion, except for the above-mentioned scope limitation..." This is an example of a (an)	Unacceptable reporting practice.
When a client will not make essential corporate minutes available to the auditor, the audit report will probably contain a(an)	Disclaimer of opinion.

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	Created by joemontin over 9 years ago

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