In auditing the long-term investments account, Arens, CPA, is unable to obtain audited financial statements for an investee located in a foreign country. Levine concludes sufficient appropriate audit evidence regarding this investment cannot be obtained.
For each of the following situations below, identify the appropriate opinion type and report modification by selecting a choice from the appropriate tables below.
Correct Answer:
Verified
Q104: An item with a "psychic" effect (e.g.,
Q115: The independent auditor must issue a qualified
Q116: When the auditor cannot perform procedures and
Q117: The explanatory paragraph for a qualified opinion
Q120: An auditor who issues a qualified opinion
Q122: Auditing standards of the United States allow
Q123: Smith and Jones, CPAs, audited the consolidated
Q137: Your CPA firm has completed the fieldwork
Q138: When there is a justified departure from
Q169: More than one modification should be included
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