Question
Which report will be submitted by an auditor, if he is
dissatisfied regarding the facts and information?Solution
An auditor will submit a qualified report if they are dissatisfied with certain facts or information in the financial statements, indicating that there are exceptions or issues that have led to a qualification of the audit opinion. In a qualified report, the auditor expresses reservations about specific aspects of the financial statements while still providing an overall opinion on the fairness of the financial statements as a whole. This report is used when the auditor believes that, except for the mentioned issues, the financial statements present a true and fair view.
Which among the following profitability level is the profit from which the fixed costs are to recovered first to arrive at the profit?
Which Statement on Auditing (SA) provides guidance on the overall objectives of the independent auditor and the conduct of an audit in accordance with ...
Under marginal costing, which of the following cost will NOT be attributed to the product cost?
In the context of GeM, what is the full form of ‘PAC’?
Which risk is a bank facing due to the mismatch between its assets and liabilities tenure?
IRR is the rate at which:
Any casual vacancy in the office of an auditor shall in the case of a company whose accounts are subject to audit by an auditor appointed by the Comptro...
Process costing is suitable for
A software company enters into a ₹10 lakh contract including installation and training. Installation is ₹8 lakh and training ₹2 lakh. Installation...
If the amount of any known liability cannot be determined accurately, then: