If a company has changed accounting principles, the auditor will issue what type of statement?
A) Lack of accounting standards.
B) Change in costing principles.
C) Lack of consistency.
D) Misstatement of accounting principles.

Question

Quizplus · Accepted Answer

The auditor will issue a statement of lack of consistency if a company has changed its accounting principles. This statement indicates that the financial statements are not comparable to previous periods because different accounting principles are being used.

If a Company Has Changed Accounting Principles, the Auditor Will