Which of the following statements is True?
I. The auditor is required to issue a disclaimer of opinion in the event of a material uncertainty.
II. The auditor is required to issue a disclaimer of opinion in the event of a going concern problem.
A)I only
B)II only
C)I and II
D)Neither I nor II

Question

Quizplus · Accepted Answer

A disclaimer of opinion is not automatically required for material uncertainty or going concern issues; the auditor assesses the situation and may issue a qualified opinion or an adverse opinion depending on the circumstances.

Which of the Following Statements Is True