The auditor has serious concern about the going concern of the company. It is dependent on company’s obtaining a working capital loan from a bank which has been applied for. The management of the company has made full disclosure of these facts in the notes to the balance sheet. The auditor is satisfied with the level of disclosure. He should issue___________?

Related Mcqs:

Auditing is compulsory for____________?

A. Small scale business B. Partnership firms C. Joint stock Companies D. Proprietary Concerns...

Internal check is carried on by___________?

A. Staff specially appointed for the purpose B. Internal auditor C. Supervisor of the staff D. Members of the staff...

Which of the following statements is, generally, correct about the reliability of audit evidence?

A. To be reliable, evidence should conclusive rather than persuasive B. Effective internal control system provides reliable audit evidence C. Evidence obtained from outside sources routed through the client D. All are correct....

The board of directors shall appoint first auditor of a company

A. With in one month of completion of capital subscription state of the company B. With in one month of the promotion of the company C. With in one month of the commencement of the business of the company D. With in one month of incorporation of the company...

Which one of the following is part of the auditor’s function?

A. Conducting the inventory count B. Obtaining and evaluating audit evidence on the financial statements C. Calculating the year-end accruals figure for inclusion in the accounts D. Providing representations to management...