If the auditor concludes that it is highly improbable that the client will continue as a going concern, the auditor should, in accordance with ASA 700:
A) issue a disclaimer of opinion.
B) issue an unqualified report but explain the concerns in the opinion paragraph.
C) include an emphasis of matter section in the audit report.
D) express an adverse opinion.

Question

Quizplus · Accepted Answer

If the auditor concludes that it is highly improbable that the client will continue as a going concern, they should express an adverse opinion, as the financial statements are not prepared on a going concern basis.

If the Auditor Concludes That It Is Highly Improbable That