[Biff-1955-Tannen]

Did I miss is somewhere where it says that Jewels report is being presented?

Jewel, CPA, audited Infinite Co.’s prior-year financial statements. These statements are presented with those of the current year for comparative purposes without Jewel’s auditor’s report, which expressed a qualified opinion. In drafting the current year’s auditor’s report, Crain, CPA, the successor auditor, should:

I not name Jewel as the predecessor auditor.

II indicate the type of report issued by Jewel.

III indicate the substantive reasons for Jewel’s qualification.

A. I only

B. I and II only

Incorrect C. II and III only

D. I, II, and III

When a prior year’s financial statements being used for comparative purposes were audited by another auditor, who expressed a qualified opinion and whose report is not being presented, the auditor’s responsibility paragraph of the successor’s report is changed to include a statement that the prior year’s statements were audited by another auditor, the date of the other auditor’s report, the opinion issued, and an explanation if the opinion was other than unmodified. The name of the predecessor auditor should not be mentioned if his or her report is not presented.

AUD 93 Jan 16
BEC 83 Feb 16
FAR 83 Apr 16
REG 84 May 16

99% Ninja MCQ only

[FAR_WARS]

The Predecessor's report is not presented. The sucessor is preparing a report that will be presented. Answer is D. Does that help?

FAR- 80
BEC- 75
AUD- 78
REG- ?

[Biff-1955-Tannen]

Holy crap I can't read. I thought “I” said to name the predecessor. Too many MCQs today.

Thanks

AUD 93 Jan 16
BEC 83 Feb 16
FAR 83 Apr 16
REG 84 May 16

99% Ninja MCQ only

[Author]

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