The audit opinion issued when there are material misstatements in the financial

Question

The audit opinion issued when there are material misstatements in the financial statements is the:

A. disclaimer of opinion.

B. qualified opinion.

C. unqualified opinion.

D. adverse opinion.

The audit opinion issued when the financial statements are fairly presented without exception is the:

A. adverse opinion.

B. disclaimer of opinion.

C. unqualified opinion.

D. qualified opinion.

The audit opinion issued when the auditors are unable to express an opinion is the:

A. adverse opinion.

B. qualified opinion.

C. unqualified opinion.

D. disclaimer of opinion.

Explanation / Answer

1 The audit opinion issued when there are material misstatements in the financial statements is the adverse opinion 2 The audit opinion issued when the financial statements are fairly presented without exception is the unqualified opinion 3 The audit opinion issued when the auditors are unable to express an opinion is the disclaimer of opinion

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