Author Question: When dealing with materiality and scope limitation conditions, (Read 38 times)

knightj · **on:** Aug 21, 2022

Question 1

When an auditor issues a qualified report due to a scope limitation an explanatory paragraph is normally added. Which, if any, of the following paragraphs are also modified?
◦

Introductory	Scope	Opinion
Yes	Yes	Yes

◦

Introductory	Scope	Opinion
Yes	Yes	No

◦

Introductory	Scope	Opinion
No	Yes	No

◦

Introductory	Scope	Opinion
No	Yes	Yes

Question 2

When dealing with materiality and scope limitation conditions,
◦ a disclaimer of opinion must be issued.
◦ it is easier to evaluate the materiality of potential misstatements resulting from a scope limitation than for failure to follow GAAP.
◦ scope limitations imposed by the client are always considered material.
◦ an unqualified opinion may still be issued depending on the materiality of the scope limitation.

bigboya · **Reply #1 on:** Aug 21, 2022

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