How does the materiality of a departure from GAAP affect the auditor\'s choice of financial statement audit reports?
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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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