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If the opinion issued on prior-years financial statements is no longer appropriate and financial
statements are presented in comparative form, the auditors current report should
A.) Indicate that the opinion on the prior-years financial statements cannot be relied upon.
B.) Express the revised opinion on the prior-years financial statements without referencing the
previously-issued opinion.
C.) Not reference the prior-years financial statements.
D.) Reference the type of opinion issued on the prior-years financial statements and indicate that
the current opinion on these financial statements differs from that expressed in the prior years.
Solution
Correct answer is:
D.) Reference the type of opinion issued on the prior-years financial statements and
indicate that the current opinion on these financial statements differs from that expressed
in the prior years.
We still need to include and explain the difference of opinion from the earlier years.

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If the opinion issued on prior-years financial statements is no longer.docx

  • 1. If the opinion issued on prior-years financial statements is no longer appropriate and financial statements are presented in comparative form, the auditors current report should A.) Indicate that the opinion on the prior-years financial statements cannot be relied upon. B.) Express the revised opinion on the prior-years financial statements without referencing the previously-issued opinion. C.) Not reference the prior-years financial statements. D.) Reference the type of opinion issued on the prior-years financial statements and indicate that the current opinion on these financial statements differs from that expressed in the prior years. Solution Correct answer is: D.) Reference the type of opinion issued on the prior-years financial statements and indicate that the current opinion on these financial statements differs from that expressed in the prior years. We still need to include and explain the difference of opinion from the earlier years.