In the case of a very material departure from GAAP, the best course of action is usually to disclaim an opinion.
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Q5: The main purpose of the audit committee
Q6: In most cases, when disclosure in the
Q7: In the opinion paragraph, reference is made
Q8: The internal auditor is responsible for the
Q9: Auditing is not possible in the absence
Q11: It is permissible under GAAS for the
Q12: No provisions exist for meeting the first
Q13: A disclaimer of opinion may be substituted
Q14: Compliance with "Statements on Auditing Standards" is
Q15: The concept of reasonable assurance does not
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