Questions from Accounting for Government and Non-Profit

Q: How does the auditor's opinion differ between scope limitations caused by client

How does the auditor's opinion differ between scope limitations caused by client restrictions and limitations resulting from conditions beyond the client's control? Under which of these two will the a...

Q: Distinguish between a report qualified as to opinion only and one with

Distinguish between a report qualified as to opinion only and one with both a scope and opinion qualification.

Q: For the audit of Radline Manufacturing Company, the audit partner asks

For the audit of Radline Manufacturing Company, the audit partner asks you to carefully read the new mortgage contract with the First National Bank and abstract all pertinent information. List the inf...

Q: Identify the three alternative opinions that may be appropriate when the client's

Identify the three alternative opinions that may be appropriate when the client's financial statements are not in accordance with GAAP. Under what circumstance is each appropriate?

Q: When an auditor discovers more than one condition that requires departure from

When an auditor discovers more than one condition that requires departure from or modification of the standard unqualified report, what should the auditor's report include?

Q: The ISAs allow an auditor to include either of the following phrases

The ISAs allow an auditor to include either of the following phrases in the auditor's opinion paragraph: (1) "The financial statements present fairly in all material respects . . ." (2) "The financial...

Q: Discuss why the adoption of international accounting and auditing standards might be

Discuss why the adoption of international accounting and auditing standards might be beneficial to investors and auditors.

Q: A careful reading of an unqualified report indicates several important phrases.

A careful reading of an unqualified report indicates several important phrases. Explain why each of the following phrases or clauses is used rather than the alternative provided: a. "The financial sta...

Q: Patel, CPA, has completed the audit of the financial statements

Patel, CPA, has completed the audit of the financial statements of Bellamy Corporation as of and for the year ended December 31, 2011. Patel also audited and reported on the Bellamy financial statemen...

Q: Describe the nature of the evidence the internal revenue agent will use

Describe the nature of the evidence the internal revenue agent will use in the audit of Jones Company's tax return.