
You sent a legal letter to a lawyer who had invoiced your client.The lawyer replied that "his practice consists of conducting real estate closings,and so he could not respond to the letter." What impact does this have on the financial statement audit?
A) There is no impact upon the financial statement audit.
B) The audit opinion will need to be qualified.
C) The auditor will need to provide a denial of opinion.
D) Additional information is needed by reference to legal invoices from this lawyer.
Correct Answer:
Verified
Q34: State the auditors' objectives for verifying contingent
Q35: The auditor has a responsibility to review
Q36: What action will a lawyer likely take
Q37: Which of the following material events occurring
Q38: Whenever subsequent events are used to evaluate
Q40: The auditor has sent inquiry letters to
Q41: Kendra is inquiring about subsequent events with
Q42: A)Discuss the purposes of performing analytical procedures
Q44: One of the purposes of a client
Q81: State the two primary types of subsequent
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents