Which of the following scenarios does not result in a qualified opinion?
A) A scope limitation prevents the auditor from completing an important audit procedure.
B) Circumstances exist that prevent the auditor from conducting a complete audit.
C) The auditor lacks independence with respect to the audited entity.
D) An accounting principle at variance with GAAP is used.

Question

Quizplus · Accepted Answer

Lack of independence with respect to the audited entity results in a disclaimer of opinion, not a qualified opinion. A qualified opinion is issued when the financial statements contain material departures from GAAP, the auditor is unable to gather sufficient evidence or the auditor is unable to complete an important audit procedure due to a scope limitation. Circumstances that prevent the auditor from conducting a complete audit also result in a disclaimer of opinion. The use of an accounting principle at variance with GAAP also results in a qualified opinion.

Which of the Following Scenarios Does Not Result in a Qualified