Morris, CPA, suspects that a pervasive scheme of illegal bribes exists throughout the operations of Worldwide Import-Export, Inc., a new audit client. Morris notified the audit committee and Worldwide's legal counsel, but neither would assist Morris in determining whether the amounts involved were material to the financial statements or whether senior management was involved in the scheme. Under these circumstances, Morris most likely should
A. Express an unmodified opinion with an other-matter paragraph.
B. Disclaim an opinion on the financial statements.
C. Express an adverse opinion on the financial statements.
D. Issue a special report regarding the illegal bribes.
Ans: B. Disclaim an opinion on the financial statements.
Business
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The equity reporting for a Limited Liability Company is similar to that of a partnership but the changes in capital are shown on a statement of members' equity
Indicate whether the statement is true or false
Business
The primary purpose of RICO was A)to be a tool against organized crime
B)to raise revenue. C)to prosecute non-citizens. D)to prosecute those engaged in tax fraud.
Business