When an auditor issues an erroneous opinion as the result of an underlying failure to comply with the requirements of generally accepted auditing standards,it results in
A)business failure.
B)audit failure.
C)audit risk.
D)business risk.

Question

Quizplus · Accepted Answer

An erroneous opinion resulting from a failure to comply with auditing standards is known as an audit failure. This occurs when the auditor does not gather sufficient evidence to support their opinion or misinterprets the evidence that they do gather, leading to an incorrect or inappropriate opinion being issued. Business failure, audit risk, and business risk are all related concepts but do not accurately reflect the specific scenario described in the question.

When an Auditor Issues an Erroneous Opinion as the Result