Question
In: Accounting
Decide on the type of audit opinion you plan to express and explain the basis for the opinion
1) Decide on the type of audit opinion you plan to express and explain the basis for the opinion.
2) If the directors threaten not to appoint DoubleCheck as auditors for next year, will you make any change in the type of audit opinion? Why or why not?
Solutions
Expert Solution
If there is any option for any individual to choose a kind of auditing, then people who want a fair statement of their company will go for external auditing, because it is a kind of auditing where all things are practices in a legal lawful manner, where auditor comes from outside to audit the fair value of the company.
When there will be external auditing, then the auditor will audit each and every possible thing to find a mistake, thus it is the best way for any company, if they want their financial statement to be true.
If the director threatened to not to keep double checker for audit from the next year, still the opinion will be the same, just because everyone want to have a true and fair value of their company, thus it will benefit every company for not getting any trouble in future.
ekkarill92 answered 1 year agoRelated Solutions
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who suffer losses from reliance on the auditor’s report which may
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Question: The auditor is required to express an opinion on a set of financial statements. Audit...
Question:
The auditor is required to express an opinion on a set of
financial statements. Audit risk is the probability that the
auditor will express an incorrect opinion resulting in financial
loss to persons acting upon the audit opinion given. There are laws
and regulations in place which provide protection for stakeholders
who suffer losses from reliance on the auditor’s report which may
be found “lacking”.
In reference to the legal and regulatory framework of the
auditing profession, what are...
Question: The auditor is required to express an opinion on a set of financial statements. Audit...
Question:
The auditor is required to express an opinion on a set of
financial statements. Audit risk is the probability that the
auditor will express an incorrect opinion resulting in financial
loss to persons acting upon the audit opinion given. There are laws
and regulations in place which provide protection for stakeholders
who suffer losses from reliance on the auditor’s report which may
be found “lacking”.
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auditing profession, what are...
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