A CPA who is not independent and is associated with financial statements should disclaim an opinion with respect to those financial statements. The disclaimer should
A) Clearly state the specific reasons for lack of independence.
B) Not mention any reason for the disclaimer other than that the CPA was unable to conduct the examination in accordance with generally accepted auditing standards.
C) Not describe the reason for lack of independence but should state specifically that the CPA is not independent.
D) Include a middle paragraph clearly describing the CPA's association with the entity and explaining why the CPA was unable to gather sufficient appropriate evidential matter to warrant the expression of an opinion.

Question

Quizplus · Accepted Answer

A disclaimer of opinion should clearly state that the CPA is not independent, but it should not provide any specific reasons for the lack of independence. The disclaimer should only state that the CPA is not able to express an opinion on the financial statements. Providing specific reasons could potentially provide misleading information to users of the financial statements.

A CPA Who Is Not Independent and Is Associated with Financial