The term "except for" is used in the opinion paragraph of an audit report that will be qualified for a GAAP violation that is not pervasive.

Question

Quizplus · Accepted Answer

The use of "except for" is typically used in the opinion paragraph of an audit report when the auditor identifies a GAAP violation that is not pervasive and the rest of the financial statements are fairly presented. This results in a qualified opinion. Therefore, the statement is true.

The Term "Except For" Is Used in the Opinion Paragraph