미국회계사 합격기61 What is A Scope Limitation? - Qualified or Disclaim opinion ※ If the possible effects are material, the auditor expresses a qualified opinion or disclaims an opinion, depending on pervasiveness. What constitutes a limitation on the scope of the audit. ■ The company failed to make a count of its physical inventory during the year, and the auditor was unable to apply alternative procedures to verify inventory quantities. - The auditor could not attend phys.. 2019. 11. 6. What is a Misstatement? - Qualified or Adverse Opinion If noncompliance materially affects the statements and is not adequately reflected in them, a qualified or adverse opinion should be expressed on the statements. Qualified Opinion ■ A qualified conclusion normally is expressed when the misstatement is material but not pervasive. -The auditor should express a qualified opinion when the financial statements are materially misstated, but the effect.. 2019. 11. 6. [AU-C 560] An Event that Arose After the Date of the Auditor's Report ※ Subsequent events are material events or transactions that occur after the balance sheet date but prior to the issuance of the financial statements. ○ They require adjustment or disclosure in the financial statements. ■ The Auditor should request the client to disclose the event in a separate, appropriately labeled note to the financial statements and reissue the original report with its origi.. 2019. 11. 6. When Not to Correct Financial Statement Presentation ■ If the uncorrected misstatements are immaterial, ○ By definition the financial statements are free from material misstatement, and an unmodified opinion may be expressed. ○ However, the schedule of uncorrected misstatements must be included in the management representation letter, and management must assert that these uncorrected misstatements are individually and collectively immaterial. ■ Wh.. 2019. 11. 6. 이전 1 ··· 9 10 11 12 13 14 15 16 다음