When the auditor issues a disclaimer of opinion on a set of financial statements, the audit report should:
A)have a paragraph headed 'disclaimer of opinion'.
B)express an adverse opinion.
C)begin with the term "except for".
D)be unqualified.

Question

Quizplus · Accepted Answer

A disclaimer of opinion is issued when the auditor is unable to obtain sufficient appropriate audit evidence to form an opinion on the financial statements. The audit report should include a paragraph headed 'disclaimer of opinion' to clearly communicate this to the users of the financial statements.

When the Auditor Issues a Disclaimer of Opinion on a Set