A client has changed the salvage values of a number of its fixed assets. The auditors believe that the revised salvage values are realistic. The appropriate report on the financial statements is:
A) Standard unmodified.
B) Unmodified with explanatory language as to consistency.
C) Qualified for consistency.
D) Disclaimer.

Question

Quizplus · Accepted Answer

Changing the salvage values of fixed assets does not impact any other area of the financial statements, and the auditors believe that the revised salvage values are realistic. As a result, an unmodified opinion is appropriate.

A Client Has Changed the Salvage Values of a Number