A(n) ________ is defined as intentional misrepresentation or omission of a material fact that is relied on by the client and causes the client damage.
A) unqualified opinion
B) actual fraud
C) disclaimer of opinion
D) constructive fraud

Question

Quizplus · Accepted Answer

Actual fraud is the intentional misrepresentation or omission of a material fact that is relied on by the client and causes the client damage. Unqualified opinion refers to an auditor's opinion indicating that a company's financial statements fairly represent its financial position. Disclaimer of opinion is an auditor's statement indicating that insufficient evidence exists to support an opinion. Constructive fraud involves the breach of a legal or equitable duty that causes harm or injury to another person.

A(n) ________ Is Defined as Intentional Misrepresentation or Omission of a Material