The auditor's report of the Huge Mega Company indicates that the financial statements are fairly presented except for the goodwill balance, which does not comply with International Financial Reporting Standards. The auditor's report is
A) unqualified.
B) unqualified with an explanatory paragraph.
C) qualified.
D) adverse.

Question

Quizplus · Accepted Answer

A qualified opinion is issued when the auditor concludes that, except for the effects of the matter(s) to which the qualification relates, the financial statements are presented fairly. In this case, the issue is with the goodwill balance.

The Auditor's Report of the Huge Mega Company Indicates That