Professional Documents
Culture Documents
Adverse opinion is an auditor's opinion that the financial statements do not present fairly and
contains material and pervasive misstatements.
TRUE
23. In a disclaimer opinion, an auditor cannot express an opinion because of the management's high
degree of scope limitations and uncertainty.
TRUE
24. Unqualified opinion is one of the modified opinions under audit report.
FALSE
25. If an auditor detects material misstatements, an auditor must issue directly either of the 3 modified
opinions such as qualified, adverse or disclaimer, depends on what the auditor's opinion was.
FALSE
1. Test the operating effectiveness only if the design is weak.
Answer: False
Answer: True
Answer: False
Answer: False
5. As the name itself, the management is the one who creates the management letter.
Answer: False