Accounting · Types of Audit Opinions
Which of the following situations would most likely require an auditor to issue a 'Disclaimer of Opinion'?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
Share:
- 1The company has legitimately earned lower operational profits compared to the preceding financial year
- 2The financial statements contain isolated, minor clerical or typographical errors
- 3The auditor is unable to obtain sufficient appropriate audit evidence, and the possible effects on financial statements could be both material and pervasive✓
- 4A material misstatement affecting inventory valuation that is strictly confined to one specific warehouse
Correct answer
The auditor is unable to obtain sufficient appropriate audit evidence, and the possible effects on financial statements could be both material and pervasive
Download Single Question PDF
Save this question and verified answer as a clean study sheet with live clickable link.
👥
Share with Friends & Study Groups
Challenge your peer aspirants on WhatsApp or Telegram to solve this question!
Online Test Series
Start Free Mock Test →Preparing for Accounting?
Practice full-length mock tests with real exam timers, instant score analysis, and all-India ranking.
Chapter Practice
Practice Types of Audit Opinions MCQs →Want more practice questions on Types of Audit Opinions?
Solve complete topic-wise tests with detailed solutions on GkGet.
Related Practice Questions
Recommended practice questions in Accounting · Types of Audit Opinions