If a public company issues financial statements that purport to present its financial position and results of operations but omits the statement of cash flows, the auditor ordinarily will express a(an)
A) Disclaimer of opinion.
B) Qualified opinion.
C) Review report.
D) Unqualified opinion with a separate explanatory paragraph.

Question

Quizplus · Accepted Answer

A qualified opinion is appropriate when financial statements are presented fairly except for a specific issue, such as the omission of the statement of cash flows.

If a Public Company Issues Financial Statements That Purport to Present