A disclaimer of opinion is issued whenever the auditor:
A) believes that some material part of the financial report is not presented fairly.
B) believes that the overall financial report is not presented fairly.
C) has determined that the financial report is presented fairly.
D) has been unable to obtain sufficient appropriate audit evidence on which to base the opinion, and the possible effects on the financial report could be both material and pervasive.

Question

Quizplus · Accepted Answer

A disclaimer of opinion is issued when the auditor is unable to obtain sufficient appropriate audit evidence to form an opinion. This means that the auditor does not have enough information to determine whether the financial report is presented fairly, which could result in material and pervasive effects on the financial report. A disclaimer of opinion is not issued if the auditor believes that the financial report is not presented fairly, as this would result in an adverse opinion.

A Disclaimer of Opinion Is Issued Whenever the Auditor