The audit opinion issued when the auditors are taking exception to a specific treatment of accounting information is the:
A)disclaimer of opinion.
B)qualified opinion.
C)adverse opinion.
D)unqualified opinion.

Question

Quizplus · Accepted Answer

A qualified opinion is issued when the auditors are taking exception to a specific treatment of accounting information but overall, the financial statements are fairly presented. A disclaimer of opinion is issued when the auditors are unable to express an opinion due to significant limitations in the scope of the audit, while an adverse opinion is issued when the financial statements are materially misstated and not fairly presented. An unqualified opinion is issued when the financial statements are fairly presented in all material respects.

The Audit Opinion Issued When the Auditors Are Taking Exception