How does the materiality of a departure from GAAP affect the auditors reports?
All Answers
total answers (1)
total answers (1)
Accounting
- if a departure from GAAP is immaterial, then auditor issues unmodified/unqualified opinion
- if departure is material but not pervasive, then qualified opinion
- if departure severe and material and therefore has a material effect on the FS as a whole, the auditor would issue an adverse opinion
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