The auditors' report on the entity's financial statements included language disclosing a difference of opinion between the auditors and the entity for which the auditors believed an adjustment to the financial statements should be made. The Opinion on the Financial Statements section of the auditors' report should express a(n)
A)unqualified opinion.
B)qualified opinion citing a departure from generally accepted accounting principles.
C)qualified opinion citing a scope limitation and lack of specific evidence.
D)disclaimer of opinion.

Question

Quizplus · Accepted Answer

The inclusion of language disclosing a difference of opinion between the auditors and the entity indicates a departure from generally accepted accounting principles, which warrants a qualified opinion.

The Auditors' Report on the Entity's Financial Statements Included Language