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

Related MCQs

• In case the auditor gives a disclaimer of opinion in the audit report which of the following paragraph(s) of a standard unqualified audit report are modified?
• 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 :
• The scope of the audit including reference to the pronouncements of the ICAI, which the auditor adheres to, generally is communicated to the client in the ____ i) auditor’s report ii) engagement letter iii) representation letter
• If any director is disqualified from being appointed under section 274(1) (g), the auditor should mention this fact in his audit report. For this purpose, how does he determine their eligibility :
• The inventory consists of about one per cent of all assets. The client has imposed restriction on auditor to prohibit observation of stock take. The auditor cannot apply alternate audit procedures.
• 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?
• As per the ‘Statement on Qualification in Auditor’s Report’s issued by the ICAI, the auditor, Under section 227(3) has to gave a statement of fact on_
• 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_
• 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?