An external auditor discovers that a payroll supervisor of the firm being audited has misappropriated $10,000. The firm's total assets and before tax net income are $14 million and $3 million, respectively.Assuming no other issues are affected the report the external Auditor's report will most likely contain a
a. Disclaimer of opinion
b. Adverse opinion
c. Scope qualification
d. Unmodified opinion
Ans: d. Unmodified opinion
Business
You might also like to view...
Indicate the effects on the accounting equation of the following business transactions of Mayflower Service Corporation for b) to d) below. Use proper account titles. Transaction a) is answered as a guide
a) Received cash from Don Jones; issued common stock to him. What will be an ideal response
Business
Office Max's "Elf Yourself" campaign is an example of
A) a successful in-store coupon program. B) a traditional advertising strategy. C) an unsuccessful MPR effort. D) a personal selling tactic. E) viral marketing.
Business