Match each auditor\'s report with the phrase that correctly describes it. advers
ID: 2598275 • Letter: M
Question
Match each auditor's report with the phrase that correctly describes it.
adverse
unqualified
qualified
reviewed
disclaimer
compiled
Presentation of financial information as presented by management
This opinion states that except for the effects of the matter(s) to which the qualification relates, the financial statements present fairly, in all material respects, the financial position, results of operations, and cash flows of entity in conformity with generally accepted accounting principles.
This opinion states that the financial statements do not present fairly the financial position, results of operations, and cash flows of the entity in conformity with generally accepted accounting principles.
Consists principally of inquiries made to company personnel and analytical procedures applied to financial data.
The auditor does not express an opinion on the financial statements.
This opinion states that the financial statements present fairly, in all material respects, the financial position, results of operations, and cash flows of the entity in conformity with generally accepted accounting principles.
A.adverse
B.unqualified
C.qualified
D.reviewed
E.disclaimer
F.compiled
Explanation / Answer
1)f, here it is just compiled since what is provided is represented
2)c here there are some areas the auditor have exceptions so it is not unqulaified and it is qualified
3)a , there is some adverse matter in the statements so the opinion is in that way
4)d
5)e , since he did not express any opinion
6)b, Here the auditor gave clear picture that everything is correct so it is unqualified