Which of the following statements is not true?
A)A qualified opinion or an adverse opinion may bring into question the reliability of the financial statements.
B)A disclaimer of opinion indicates that one should not look to the auditor's report as an indication of the reliability of the statements.
C)In some cases,outside accountants are associated with financial statements when they have performed less than an audit.
D)A review is substantially less in scope than an examination in accordance with generally accepted auditing statements.
E)The accountant's report expresses an opinion on reviewed financial statements.

Question

Quizplus · Accepted Answer

The accountant's report on reviewed financial statements does not express an opinion, but rather provides limited assurance that nothing has come to the accountant's attention that causes them to believe the financial statements are not presented fairly. An audit provides an opinion, while a review provides only limited assurance.

Which of the Following Statements Is Not True