A disclaimer of opinion is issued whenever the auditor:
A) has been unable to obtain sufficient appropriate audit evidence on which to base the opinion and that the possible effects on the financial report could be both material and pervasive.
B) believes that the overall financial report is not presented fairly.
C) has determined that the financial report is presented fairly.
D) believes that some material part(s) of the financial report are not presented fairly.

Question

Quizplus · Accepted Answer

A disclaimer of opinion is issued when the auditor has been unable to obtain sufficient appropriate audit evidence on which to base the opinion and that the possible effects on the financial report could be both material and pervasive. In other words, the auditor is unable to form an opinion on the financial statements, but cannot identify any misstatements.

A Disclaimer of Opinion Is Issued Whenever the Auditor