A qualified opinion on management's assessment of internal controls over the financial reporting system necessitates a qualified opinion on the financial statements.

Question

Quizplus · Accepted Answer

A qualified opinion on management's assessment of internal controls over financial reporting does not automatically necessitate a qualified opinion on the financial statements themselves. The two are separate assessments, and issues with internal controls may not directly impact the accuracy or integrity of the financial statements as presented.

A Qualified Opinion on Management's Assessment of Internal Controls Over