7 . ( TCO 2 ) In May , Year 4 , an auditor reissues the auditor ' s report on the Year 2 financial statements at a continuing client ' s request . The Year 2 financial statements are not restated and the auditor does not revise the wording of the report . The auditor should :
8 . ( TCO 11 ) Which of the following items would ordinarily not be included in the standard letter of inquiry to the client ' s attorney ?
9 . ( TCO 2 ) In which type of report would you read the following statement : " We believe that our examination provides a reasonable basis for our opinion ."?
10 . ( TCO 2 ) In connection with a proposal to obtain a new client , an accountant in public practice is asked to prepare a written report on the application of the requirements of an applicable financial reporting framework to a specific transaction . The accountant ' s report should include a statement that :
ACCT 444 Week 7 Quiz
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1 . ( TCO 2 ) When determining whether an exception is highly material the extent to which the exception affects different elements of the financial statements must be considered . This concept is called
2 . ( TCO 2 ) When a client has not applied GAAP consistently from the prior year to the current year , the auditor does not concur with the appropriateness of the change , and the change in GAAP has a material effect on the financial statements , the auditor should issue a ( n )
3 . ( TCO 2 ) The only unqualified opinion which contains modified wording ( excluding an explanatory paragraph ) relates to
4 . ( TCO 2 ) A CPA will issue an adverse auditor ' s opinion if