AUD

AUD practice questions, page 12 of 41, with answer review and explanations.

Question 56

An auditor may reasonably issue an "except for" qualified opinion for a(an):

  1. Option A
  2. Option B
  3. Option C
  4. Option D

Question 57

The following explanatory paragraph was included in an auditor's report to indicate a lack of consistency: "As discussed in note T to the financial statements, the company changed its method of computing depreciation in X0." How should the auditor report on this matter if the auditor concurred with the change? Type of Location of opinion explanatory paragraph.

  1. Unqualified Before opinion paragraph
  2. Unqualified After opinion paragraph
  3. Qualified Before opinion paragraph
  4. Qualified After opinion paragraph

Question 58

How does an auditor make the following representations when issuing the standard auditor's report on comparative financial statements?

  1. Option A
  2. Option B
  3. Option C
  4. Option D

Question 59

An auditor was unable to obtain sufficient appropriate audit evidence concerning certain transactions due to an inadequacy in the entity's accounting records. The auditor would choose between issuing a(an):

  1. Qualified opinion and an unqualified opinion with an explanatory paragraph.
  2. Unqualified opinion with an explanatory paragraph and an adverse opinion.
  3. Adverse opinion and a disclaimer of opinion.
  4. Disclaimer of opinion and a qualified opinion.

Question 60

In which of the following situations would a principal auditor least likely make reference to another auditor who audited a subsidiary of the entity?

  1. The other auditor was retained by the principal auditor and the work was performed under the principal auditor's guidance and control.
  2. The principal auditor finds it impracticable to review the other auditor's work or otherwise be satisfied as to the other auditor's work.
  3. The financial statements audited by the other auditor are material to the consolidated financial statements covered by the principal auditor's opinion.
  4. The principal auditor is unable to be satisfied as to the independence and professional reputation of the other auditor.