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Auditor's responsibilities and opinions

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1. The auditor's responsibilities with regard to audit works is usually up to the last date of field works. (True/False)

2. Name the various types of opinions expressed by an independent auditor.

3. List the three types of going concern issues.

4. Describe very briefly three conditions under which an auditor issues a qualified report

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Discusses questions regarding auditing.

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1. The auditor's responsibilities with regard to audit works are usually up to the last date of field works

Answer: This statement is true.

2. Name the various types of opinions expressed by an independent auditor

Answer: The various types of opinion expressed by independent auditors are as below:
• Unqualified Audit Report - When the financial statement and the financial operations presented by the company are in accordance with the GAAP and does not include any misstatement, then the report prepared by the auditor is known as the unqualified audit ...

Solution provided by:
Sonia Agarwal, CA
Education
  • Chartered Accountant (Equivalent to CPA in US), Institute of Charted Accountants of India
  • Bachelor of Commerce, West Bengal University
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