Logan, an independent auditor, is assigned to perform an audit for a software company. After the audit, he notices some serious lapses and discrepancies in the numbers mentioned in the firm's financial statements. In this scenario, Logan is most likely to offer a(n) _____ opinion in his audit report.
A) qualified
B) unqualified
C) adverse
D) concurring

Question

Quizplus · Accepted Answer

An adverse opinion is issued when an auditor finds significant misstatements or discrepancies in the financial statements, indicating that they do not accurately reflect the company's financial position.

Logan, an Independent Auditor, Is Assigned to Perform an Audit