Which of the following reporting options is least likely with regard to supplementary information that is required by GAAP?

Question

Quizplus · Accepted Answer

Choice "C" is correct. There is no requirement that the auditor's report on supplementary information required by GAAP be restricted. Choice "A" is incorrect. An auditor is not required to audit supplementary information, and in such cases the auditor's report on the basic financial statements would not generally include a reference to such information. Choice "B" is incorrect. When supplementary information that is not clearly distinguished from the financial statements is not marked "unaudited," the auditor would generally issue a disclaimer on that information. Choice "D" is incorrect. When the auditor chooses to apply auditing procedures to the supplementary information, he or she may express an opinion regarding whether the supplementary information is fairly stated in all material respects in relation to the financial statements taken as a whole.

Which of the Following Reporting Options Is Least Likely with Regard