The auditor's report of the Samcorp Company indicates that the auditor is unable to form an opinion on whether the financial statements of the company are fairly presented due to scope restrictions and unavailable and incomplete records. The auditor's report
A) is unqualified.
B) is qualified.
C) is adverse.
D) is a disclaimer of opinion.

Question

Quizplus · Accepted Answer

A disclaimer of opinion is issued by the auditor when they are unable to form an opinion on the financial statements due to limitations in scope or lack of information. In this case, the auditor's report indicates that they are unable to form an opinion due to scope restrictions and incomplete records, which falls under a disclaimer of opinion.

The Auditor's Report of the Samcorp Company Indicates That the Auditor