In which circumstance will the auditor not consider the need to modify the wording in the report?

A. The client's legal counsel is requested to advise whether a material act constitutes noncompliance with tax law but refuses to do so.
B. The auditor concludes that the effect of noncompliance with pension regulations creates substantial doubt about the entity's ability to continue as a going concern.
C. The auditor concludes that the effect of noncompliance, taken alone or with similar acts, is material in amount and has not been properly accounted for or disclosed in the financial statements.
D. All of the circumstances require modification of the auditor's report.

Ans: D. All of the circumstances require modification of the auditor's report.

Business

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Mason Cabinet Company sells standard kitchen cabinets

The following information summarizes Mason's operating activities for the year: Selling and Administrative Expenses $42,750 Purchases 85,700 Sales Revenue 154,500 Merchandise Inventory, January 1 12,500 Merchandise Inventory, December 31 16,200 Mason sold 950 cabinets during the year. Calculate the operating income for the year. Compute the unit cost for one cabinet (Round to two decimal places.) What will be an ideal response

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Before you increase your homeowner's insurance deductible you should evaluate

A) if you are going to have a claim in the next year or two. B) if you can afford to "self insure" the deductible amount in the event of a loss claim. C) your auto insurance liability levels and liability deductible. D) Stop; it is never a good idea to increase your deductible.

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