[kdawg22]

How come in the first question with a scope limitaion a qualified opinion is allowed but in the second question it says “qualified opinions are not allowed”.

What am i missing????

Which of the following types of audit opinion(s) are appropriate when circumstances result in a scope limitation in relation to an audit of a public company’s internal control?
Qualified Adverse
Yes Yes
Yes No (correct answer)
No Yes
No No
This answer is correct because either a qualified opinion or a disclaimer of opinion is appropriate—not an adverse opinion.

Which auditor actions are possible when that auditor incurs a scope limitation relating to a public company engagement on whether a previously reported material weakness continues to exist?
Disclaimer of Opinion Qualified Opinion
Yes Yes
Yes No (correct answer)
No Yes
No No
This answer is correct because while disclaimers are allowed, qualified opinions are not allowed; in addition (not included in this question) the auditor may choose to withdraw from the engagement due to a scope limitation.

Trust the Process

FAR - 83 Wiley
BEC - 68 Wiley, 74 (Wiley & NINJA), 79 (Wiley, NINJA, & Becker SIMS)
AUD - 72 Wiley, 77 (Wiley & NINJA)
REG - 88 Wiley & NINJA

 

[Anonymous]

GAAS issues will always result in either a qualified or a disclaimer of opionion. A disclaimer if it is material

GAAP issues will always be either qualified or adverse

Scope limitations are usually due to not being able to gather sufficient approriate audit evidence. Which is an audit issues= GAAS issue.

Hope that makes a little sense.
Cheers!!

[Anonymous]

For the second question,I believe the SAS's require a disclaimer since it is a material weakness. Anything material has to be atleast a disclaimer. Read the PCAOB rules they definitely help you make sense of this. It's alot, just find a systematic way to let it make sense.

I took Aud Jan 20, so Im surprised I even remember anything. Hahah. Sorry AICPA please dont change my score.

[kdawg22]

ahh i was missing the word material in the second question. That will happen after a day full of going through multiple choice questions. thanks!!

Trust the Process

FAR - 83 Wiley
BEC - 68 Wiley, 74 (Wiley & NINJA), 79 (Wiley, NINJA, & Becker SIMS)
AUD - 72 Wiley, 77 (Wiley & NINJA)
REG - 88 Wiley & NINJA

 

[Author]

Replies