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      Question

      A "Qualified Opinion" is expressed by an auditor

      when:
      A The financial statements do not give a true and fair view at all. Correct Answer Incorrect Answer
      B The auditor is unable to obtain sufficient appropriate audit evidence. Correct Answer Incorrect Answer
      C The auditor concludes that misstatements are material but not pervasive. Correct Answer Incorrect Answer
      D There is a fundamental disagreement that is pervasive to the accounts. Correct Answer Incorrect Answer
      E The entity is about to go bankrupt. Correct Answer Incorrect Answer

      Solution

      A qualified opinion is issued when the auditor finds material misstatements, but they are not so pervasive as to render the whole financial statements misleading (which would require an Adverse Opinion).

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