In which of the following circumstances would a qualified opinion be appropriate?
A)The statements are not in conformity with generally accepted accounting principles regarding stock options plans and but does not have pervasive effect on the financial statements
B)The statements are not in conformity with generally accepted accounting principles regarding stock options plans and has pervasive effect on the financial statements
C)The auditor has been unable to obtain sufficient competent evidential matter
D)The principal auditors decide to withdraw from the engagement due to distrust of management

Question

Quizplus · Accepted Answer

A qualified opinion would be appropriate if the financial statements are not in conformity with generally accepted accounting principles regarding a particular issue but the effect is not pervasive on the financial statements as a whole.

In Which of the Following Circumstances Would a Qualified Opinion