If, after the accumulation of final evidence and during the evaluation of results, the auditor concludes that sufficient evidence has NOT been obtained to draw a conclusion about fairness of the client's representations, there are two choices:
A) (1) obtain additional evidence or (2) issue a qualified opinion or a disclaimer of opinion.
B) (1) obtain additional information or (2) issue an adverse opinion.
C) (1) issue a qualified opinion or (2) issue a disclaimer of opinion.
D) (1) issue a disclaimer of opinion or (2) withdraw from the engagement.

Question

Quizplus · Accepted Answer

If sufficient evidence has not been obtained to draw a conclusion about the fairness of the client's representations, the auditor has two choices. The first choice is to obtain additional evidence, which may involve performing additional procedures or seeking clarification from the client. The second choice is to issue a qualified opinion or a disclaimer of opinion. The choice will depend on the materiality of the issue and the impact on users of the financial statements. In most cases, the auditor should attempt to obtain additional evidence before issuing a modified opinion. Therefore, choice A is the best option.

If, After the Accumulation of Final Evidence and During the Evaluation