The audit opinion issued when the auditors are unable to express an opinion is the:
A)disclaimer of opinion.
B)qualified opinion.
C)adverse opinion.
D)unqualified opinion.

Question

Quizplus · Accepted Answer

A disclaimer of opinion is issued when the auditors are unable to express an opinion. This may occur when there is a lack of sufficient appropriate evidence or when there are significant scope limitations. A qualified opinion is issued when the auditors are able to express an opinion but have concerns about specific matters in the financial statements. An adverse opinion is issued when the financial statements are materially misstated and do not present fairly in accordance with the accounting standards. An unqualified opinion is issued when the financial statements are presented fairly in accordance with the accounting standards.

The Audit Opinion Issued When the Auditors Are Unable to Express