CFA Practice Question
When an auditor finds that the audit is insufficient in scope to render an opinion, he will issue ______.
A. an adverse opinion
B. a disclaimer of opinion
C. a qualified opinion
Explanation: A disclaimer of opinion is a statement of inability to express an opinion.
User Contributed Comments 6
| User | Comment |
|---|---|
| Rguerra | Careful! Do not confuse a disclaimer of opinion with a qualified opinion. In the first case, the auditor is saying he/she did not do enough analysis to express an opinion. In the second, he did enough analysis and found a few problems during the audit. |
| Villa | Good question! |
| dealsoutlook | good explaination Rguerra i did not know that |
| MrsP | Great Question! |
| visiblebob | Thanks Rguerra. |
| Insipidity | First time seeing this ... Thnks for the explanation Rguerra |