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:
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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