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I’m having trouble understanding this question from the Wiley Test Bank:
Which auditor actions are possible when that auditory incurs a scope limitation relating to a public company engagement on whether a previously reported material weakness continues to exist?
The two choices are “Disclaimer” and “Qualified”. And it’s one of those questions where you pick “yes-yes”, “yes-no”, and so forth.
I feel that the correct answer is “Yes-Yes”. According to my understanding, you can issue an unqualified opinion for an immaterial scope limitation, a qualified opinion for a material scope limitation, and a disclaimer of opinion for a very-material scope limitation. So, in my mind, depending on the level of materiality, it could be a qualified opinion or a disclaimer opinion.
What am I missing here? Thanks!
FAR...80...Yaeger...Nov/2011
AUD...Exam...Oct/2012
REG
BEC
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