ACCT 444 help A Guide to career/Snaptutorial ACCT 444 help A Guide to career/Snaptutorial | Page 29

1. (TCO 2) If a misstatement is immaterial to the financial statements
of the entity for the current period, but is expected to have a material
effect in future periods, it is appropriate to issue a(n)
2. (TCO 2) When the auditor believes a company's financial
statements are misleading because they were not prepared in
conformity with GAAP, the auditor must issue a(n)
3. (TCO 2) When qualifying an opinion because of an insufficiency of
audit evidence, an auditor should refer to the situation in the:
4. (TCO 2) Jewel, CPA, audited Infinite Co.'s prior-year financial
statements. These statements are presented with those of the current
year for comparative purposes without Jewel's auditor's report, which
expressed a qualified opinion. In drafting the current year's auditor's
report, Crain, CPA, the successor auditor, should:
Not name Jewel as the predecessor auditor.
Indicate the type of report issued by Jewel.
Indicate the substantive reasons for Jewel's qualification.