When management prepares financial statements on the basis of a going concern and the auditor believes the company may not continue as a going concern, the auditor should issue aSelect one:a.qualified opinionb.unqualified opinion with an explanatory paragraphc.disclaimer of opiniond.adverse opinion

If the auditor believes that the entity will not be able to continue as a going concern and the financial statements are prepared on a going concern basis, the auditor's report should include:Select one:a.Unqualified opinion with explanatory paragraph.b.Qualified opinion.c.Adverse opinion.d.Disclaimer of opinion.

An auditor decides to express a qualified opinion on an entity's financial statements because a major inadequacy in its computerized accounting records prevents the auditor from applying necessary procedures. The opinion paragraph of the auditor's report should state that the qualification pertains toSelect one:a.A client-imposed scope limitation.b.The possible effects on the financial statements.c.Inadequate disclosure of necessary information.d.A departure from generally accepted auditing standards.

An auditor would issue an adverse opinion ifSelect one:a.A qualified opinion cannot be given because the auditor lacks independence.b.The audit was begun by other independent auditors who withdrew from the engagement.c.The statements taken as a whole do not fairly present the financial condition and results of operations of the company.d.The restriction on the scope of the audit was significant.

A statement that the auditor's responsibility is to express an opinion on the financial statements is contained in the:Select one:a.Opening paragraphb.Scope paragraphc.Opening and scope paragraphd.Opinion paragraph

A standard unqualified audit report is not required to have which of the elements set out below?Group of answer choicesan opinion paragrapha heading ‘Auditors Opinion’matters the auditor wishes to emphasisethe opinion of the auditor on the financial statements