A disclaimer of opinion generally indicates ________.
A)the auditor is very uncertain with respect to an item (or multiple items)and cannot form an opinion on the fairness of presentation of the financial statements as a whole
B)because of a lack of evidence,the auditor is uncertain with respect to an isolated item that is material but not so material that the auditor cannot form an opinion on the fairness of presentation of the financial statements as a whole
C)the auditor has observed a departure from generally accepted accounting principles that has a material effect upon the fairness of presentation of financial statements,but the departure is not material enough to justify a qualified opinion
D)the auditor has observed a departure from generally accepted accounting principles that is so material that a qualified opinion is not justified

Question

Quizplus · Accepted Answer

A disclaimer of opinion indicates that the auditor is very uncertain about one or multiple items and cannot form an opinion on the fairness of presentation of the financial statements as a whole. This may result from a lack of sufficient evidence or a limitation on the scope of the audit. A disclaimer of opinion is a form of adverse report and should be avoided if possible.

A Disclaimer of Opinion Generally Indicates ________