The auditors have determined that there is substantial doubt about an entity's ability to continue as a going concern.When considering the appropriateness of management's disclosures and severity of the uncertainty,all of the following reports could be issued,except
A) qualified opinion based on a material and pervasive uncertainty.
B) unmodified opinion with an emphasis-of-matter paragraph describing the uncertainty.
C) adverse opinion based on inadequate disclosure of the uncertainty.
D) disclaimer of opinion based on a material and pervasive uncertainty.

Question

Quizplus · Accepted Answer

A qualified opinion is not appropriate for a material and pervasive uncertainty about going concern; instead, a disclaimer of opinion would be issued if the uncertainty is pervasive.

The Auditors Have Determined That There Is Substantial Doubt About