RaviRavi Staff asked 9 months ago
1 Answers
RaviRavi Staff answered 9 months ago

119. Identify the incorrect one:
Financial reporting framework is prescribed by law, but is unacceptable to the auditor, in this
case auditor shall accept the assignment only if:
a) Additional disclosure is given by management in financial statement.
b) Management agrees that auditor will mention the fact in emphasis of matter para and will not use word fair in opinion.
c) Warn the management in engagement letter that audit report will be modified.
d) Reference of SA’s in such audit report will not be given by the auditor.
Answer:d) Reference of SA’s in such audit report will not be given by the auditor.
 
MCQ revised for better understanding:
Identify the incorrect one:
Financial reporting framework is prescribed by law, but is unacceptable to the auditor,in this case auditor shall accept the assignment only if:
a)Additional disclosure is given by management in financial statement.
b)Management agrees that auditor will mention the fact in emphasis of matter para and will not use word fair in opinion.
c) Warn the management in engagement letter that audit report will be modified,if financial statements are misleading .
d) Reference of SA’s in such audit report will not be given by the auditor.
Answer:d) Reference of SA’s in such audit report will not be given by the auditor.

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