[Stilgoin]

NINJA Question –

“A lack of consistency caused by a material change in an applicable financial reporting framework between periods would be reported in an other-matter paragraph after the opinion paragraph. Under these circumstances, the auditor issues a modified unmodified opinion. The other answer choices are incorrect because the proper treatment of a lack of consistency is to add an other-matter paragraph after the opinion paragraph.”

Surely this is a typo, or maybe it is supposed to be modified/unmodified?

B | 62, 78
A | 73, 67, 79
R | 82
F | 59, 59, Waiting

Ethics | 93

"Success is not final, failure is not fatal: it is the courage to continue that counts."
~Winston Churchill

“In a world full of critics, be an encourager."

[CPA2BEE]

I'm pretty sure what they mean by “modified unmodified opinion” is that, due to addition of the other-matter paragraph, the standard audit report is modified but still expressing an unmodified opinion. This is classic audit trickery right here…

FAR - 80
AUD - 82
BEC - 80
REG - 85

ETHICS - 90
EXPERIENCE - COMPLETE
Application for California license mailed 8/4/2016

[Stilgoin]

@CPA2BEE Thank you! I see now- modified report, unmodified opinion. Got it! (not really but ‘fake it ’til you make it' comes to mind) lol

B | 62, 78
A | 73, 67, 79
R | 82
F | 59, 59, Waiting

Ethics | 93

"Success is not final, failure is not fatal: it is the courage to continue that counts."
~Winston Churchill

“In a world full of critics, be an encourager."

[Author]

Replies