The auditor has serious concern about the going concern of the company. It is dependent on company’s obtaining a working capital loan from a bank which has been applied for. Then management of the company has made full disclosure of these facts in the notes to the balance sheet. The auditor is satisfied with the level of disclosure. He should issue_

Related MCQs

• In order to vouch bought ledger, the auditor obtain confirmations from creditors. The principal reason for the auditor to examine suppliers statements at balance sheet date is to obtain evidence that
• When issuing unqualified opinion, the auditor who evaluates the audit findings should be satisfied that the
• When issuing unqualified opinion the auditor who evaluates the audit findings should be satisfied that the :
• An auditor is verifying valuation of building which has been self constructed by the client. Which of the following documents is least relevant to the auditor for verification purposes?
• The auditor should state the reasons for his reservations in audit report and should try to quantify the effect on them. This should be done in case he has expressed _ i) A qualified opinion ii) an unqualified opinion with emphasis of matter paragraph iii) An adverse opinion IV) a disclaimer of opinion
• When restrictions that significantly affect the scope of the audit are imposed by the client, the auditor generally should issue which of the following opinion?
• A flow chart, made by the auditor, of an entity’s internal control system is a graphic representation that depicts the auditor’s.
• The management of a company, to which AS3 is not applicable, does not include statement of cash flows in its annual report. The auditor should express
• The client changed method of depreciation from straight line to written down value method. This has been disclosed as a note to the financial statements. It has an immaterial effect on the current financial statements. It is expected, however, that the change will have a significant effect on future periods. Which of the following option should the auditor express?
• When an independent auditor relies on the work of an internal auditor, he or she should