A client that has a departure from generally accepted accounting principles that is immaterial will receive a qualified or adverse opinion.

Question

Quizplus · Accepted Answer

If a departure from generally accepted accounting principles is immaterial, it will not impact the fairness of the financial statements and therefore will not result in either a qualified or adverse opinion. Instead, the auditor will issue an unqualified opinion with an explanatory paragraph disclosing the departure.

A Client That Has a Departure from Generally Accepted Accounting