The phrase "in our opinion" indicates that
A)the auditor performed the audit on a test basis.
B)the auditor's judgment can be relied upon.
C)the auditor relied on his or her knowledge to perform the audit.
D)there may be some information risk associated with the financial statements.

Question

Quizplus · Accepted Answer

The phrase "in our opinion" indicates that the auditor is providing their professional judgment based on the information available to them, but there may still be some level of information risk associated with the financial statements. This means that the auditor's judgment cannot be relied upon without some caution or consideration of potential limitations.

The Phrase "In Our Opinion" Indicates That