Which of the following situations would result in the issuance of a disclaimer of opinion?
A)The audit reveals weaknesses in the client's internal control over financial reporting.
B)The auditor is discovered to own a financial interest in the entity.
C)The audit is performed, with limited exception, in accordance with generally accepted auditing standards.
D)The entity's financial statements are not presented in conformity with the applicable financial reporting framework.

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 on the financial statements, often due to a lack of independence, such as owning a financial interest in the entity.

Which of the Following Situations Would Result in the Issuance